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NEW YORK ( TheStreet) -- Novagold Resources (AMEX: NG) hit a new 52-week low Thursday as it is currently trading at $5.92, below its previous 52-week low of $5.93 with 5.2 million shares traded as of 4 p.m. ET. Average volume has been 4.6 million shares over the past 30 days. Novagold has a market cap of $1.87 billion and is part of the basic materials sector and metals & mining industry. Shares are down 20.8% year to date as of the close of trading on Wednesday. NovaGold Resources Inc. engages in the exploration and development of mineral properties primarily in Alaska, the United States and British Columbia, Canada. The company primarily explores for gold, silver, copper, zinc, and lead ores.