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NEW YORK ( TheStreet) -- Novagold Resources (AMEX: NG) hit a new 52-week low Monday as it is currently trading at $6.42, below its previous 52-week low of $6.45 with 530,983 shares traded as of 10:20 a.m. ET. Average volume has been 3.7 million shares over the past 30 days. Novagold has a market cap of $1.6 billion and is part of the basic materials sector and metals & mining industry. Shares are down 54.8% year to date as of the close of trading on Friday. NovaGold Resources Inc., through its subsidiaries, engages in the exploration and development of mineral properties primarily in North America. The company primarily explores for gold, silver, copper, zinc, and lead ores.