Novagold Resources June 15th Short Interest Update

Novagold Resources (NYSEMKT:NG) reported a drop of 8.4% or 1,340,466 shares in its short interest. The short figure came in at 6.3% of the total floats. The average daily volume of 2,378,704 shares suggests that the days to cover 14,575,121 short positions, as on June 15,2016, will be 6. On May 31,2016, the short interest was 15,915,587 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Novagold Resources (NYSEMKT:NG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.61 and $6.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.40, notching a gain of 3.39% for the day. The total traded volume was 8,885,872 . The stock had closed at $6.19 on the previous day.

The company shares have rallied 82.86% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $6.79 and the one year low was seen on Jul 20, 2015. The 50-Day Moving Average price is $6.00 and the 200 Day Moving Average price is recorded at $5.15.

Novagold Resources (NYSEMKT:NG) has climbed 2.07% in the past week and advanced 25.49% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 3.77% and the outperformance has advanced to 29.29% for the last 4 weeks period.

NOVAGOLD RESOURCES INC. (NOVAGOLD) is engaged in the exploration and development of mineral properties. The Company operates in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Companys principal assets include a 50% interest in the Donlin Gold project in Alaska, the United States and a 50% interest in the Galore Creek project in British Columbia, Canada. The Companys primary focus is on the Donlin Gold project. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The Galore Creek project is owned by the Galore Creek Partnership, a partnership in which NOVAGOLD Canada Inc, a wholly owned subsidiary of NOVAGOLD, owns approximately 50% interest. The Company has no operations or realized revenues from its planned principal business purpose.

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