American Century Companies Inc. Buys Shares of 579,438 NovaGold Resources Inc. (NYSEAMERICAN:NG)

American Century Companies Inc. purchased a new position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 579,438 shares of the mining company’s stock, valued at approximately $2,029,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Paulson & CO. Inc. lifted its stake in shares of NovaGold Resources by 5.9% during the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after buying an additional 1,315,183 shares during the period. Vanguard Group Inc. lifted its stake in shares of NovaGold Resources by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company’s stock worth $31,134,000 after purchasing an additional 367,401 shares during the period. Van ECK Associates Corp boosted its holdings in shares of NovaGold Resources by 1.0% during the first quarter. Van ECK Associates Corp now owns 9,567,134 shares of the mining company’s stock worth $28,701,000 after purchasing an additional 94,205 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of NovaGold Resources by 37.0% in 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 purchasing an additional 572,273 shares during the period. Finally, Wellington Management Group LLP increased its stake in NovaGold Resources by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 1,061,241 shares of the mining company’s stock valued at $3,969,000 after purchasing an additional 57,054 shares during the last quarter. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

NovaGold Resources Stock Performance

Shares of NG stock opened at $4.23 on Friday. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -32.54 and a beta of 1.05.

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

Analyst Ratings Changes

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

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.