Raymond James & Associates Has $2.01 Million Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Raymond James & Associates decreased its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 9.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 579,865 shares of the mining company’s stock after selling 61,993 shares during the quarter. Raymond James & Associates’ holdings in NovaGold Resources were worth $2,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NG. Paulson & CO. Inc. grew its position in NovaGold Resources by 5.9% during the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after purchasing an additional 1,315,183 shares in the last quarter. Kopernik Global Investors LLC raised its position in NovaGold Resources by 6.9% during the fourth quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock valued at $40,864,000 after buying an additional 705,343 shares during the period. Russell Investments Group Ltd. raised its position in NovaGold Resources by 37.0% during the first quarter. Russell Investments Group Ltd. now owns 2,119,689 shares of the mining company’s stock valued at $6,359,000 after buying an additional 572,273 shares during the period. Vanguard Group Inc. lifted its stake in NovaGold Resources by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company’s stock worth $31,134,000 after acquiring an additional 367,401 shares in the last quarter. Finally, Prosperity Consulting Group LLC boosted its position in NovaGold Resources by 101.8% during the 1st quarter. Prosperity Consulting Group LLC now owns 223,000 shares of the mining company’s stock worth $669,000 after acquiring an additional 112,500 shares during the period. Institutional investors and hedge funds own 57.56% of the company’s stock.

Wall Street Analyst Weigh In

NG has been the topic of a number of research reports. National Bank Financial downgraded NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th.

NovaGold Resources Stock Down 6.2 %

Shares of NYSEAMERICAN:NG opened at $3.99 on Wednesday. The firm has a market cap of $1.33 billion, a P/E ratio of -30.65 and a beta of 1.01. NovaGold Resources Inc. has a 1 year low of $2.22 and a 1 year high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its earnings results on Wednesday, June 26th. The mining company reported ($0.04) earnings per share for the quarter.

NovaGold Resources Company Profile

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.