Goehring & Rozencwajg Associates LLC Buys 33,900 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Goehring & Rozencwajg Associates LLC grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 11.6% in the second quarter, HoldingsChannel reports. The fund owned 325,768 shares of the mining company’s stock after acquiring an additional 33,900 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in NovaGold Resources were worth $1,127,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NG. First Eagle Investment Management LLC lifted its holdings in NovaGold Resources by 16.5% in the second quarter. First Eagle Investment Management LLC now owns 21,485,443 shares of the mining company’s stock valued at $74,340,000 after buying an additional 3,042,480 shares during the period. Lingotto Investment Management LLP lifted its holdings in NovaGold Resources by 10.2% in the second quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock valued at $67,222,000 after buying an additional 1,790,528 shares during the period. Firestone Capital Management acquired a new position in NovaGold Resources in the second quarter valued at approximately $110,000. American Century Companies Inc. acquired a new position in NovaGold Resources in the second quarter valued at approximately $2,029,000. Finally, Ground Swell Capital LLC acquired a new position in NovaGold Resources in the second quarter valued at approximately $124,000. 57.56% of the stock is owned by institutional investors.

NovaGold Resources Trading Down 2.3 %

NG opened at $4.17 on Thursday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -32.08 and a beta of 1.05. NovaGold Resources Inc. has a twelve month low of $2.22 and a twelve month high of $4.88.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NG. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Sunday, July 28th. National Bank Financial lowered shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th.

NovaGold Resources 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.