Novagold Stock Falls On Unusually High Volume (NG)

NEW YORK ( TheStreet) -- Novagold Resources (AMEX: NG) is trading at unusually high volume Thursday with 11.8 million shares changing hands. It is currently at four times its average daily volume and trading down 93 cents (-9%) at $9.40 as of 11:30 a.m. ET.

Novagold has a market cap of $2.29 billion and is part of the basic materials sector and metals & mining industry. Shares are up 22.1% year to date as of the close of trading on Wednesday.

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.

TheStreet Ratings rates Novagold as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Novagold Ratings Report.

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