NovaGold Resources Inc. (NG:CA) was one of the best stocks in materials sector of the S&P/TSX Composite Index on January 13, rising 2.13% to close the day at $6.71 after closing the day prior at $6.57. Throughout the day, shares of NG:CA traded as high as $6.72 and as low as $6.42. Today’s advance came with about 313,259 shares changing hands, compared to an average 30-day volume of 426,453 for NovaGold Resources Inc.. The price is currently below the 30-day volume weighted average price of $6.62 for NG:CA.
The share appreciation gives the company a market capitalization of $2.1 billion based upon 320.02 million shares outstanding. It also means that NovaGold Resourc has a price-to-book ratio of 5.08:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of NG:CA have traded as low as $5.09 and as high as $9.56. Technical traders will take note that at $6.71, shares of NG:CA are trading below their 200-day MA at $7.23 and above their 50-day MA at $6.1. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is NovaGold Resourc?
Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of gold and copper mineral properties. The company’s 13 employees are led by CEO Gregory A. Lang from the corporate headquarters at 789 West Pender Street.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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