The shareholder of NovaGold Resources Inc. (USA) (NYSEMKT:NG) 5.88 -0.03 -0.51% and firm's insider Gillyeard Leathley sold 20,000 shares of the Amex-listed company based on the average share price of $4.5 for a share.
Latest closing price was -14.51% below its 50-day moving average and -28.58% below its 200-day moving average. While trading at volume higher than average, NovaGold Resources Inc. (USA) (NYSEMKT:NG) plunged -5.00% at the end of recent close.
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The predicament for NovaGold Resources (NYSEMKT:NG)? They own 50% of one of the largest open pit gold projects in the world, a project that will cost $6.7 billion to build but won't generate a strong return unless gold increases more in price.