NovaGold Resources (NYSEAMERICAN:NG) Shares Gap Up to $4.10

NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) gapped up prior to trading on Tuesday . The stock had previously closed at $4.10, but opened at $4.19. NovaGold Resources shares last traded at $4.13, with a volume of 41,919 shares changing hands.

Analyst Ratings Changes

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

NovaGold Resources Trading Up 1.5 %

The stock has a market capitalization of $1.39 billion, a P/E ratio of -31.54 and a beta of 1.05.

Institutional Trading of NovaGold Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC increased its stake in shares of 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 worth $74,340,000 after buying an additional 3,042,480 shares during the last quarter. Lingotto Investment Management LLP increased its position in shares of NovaGold Resources by 10.2% in the 2nd quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock worth $67,222,000 after purchasing an additional 1,790,528 shares during the last quarter. Paulson & CO. Inc. increased its position in shares of NovaGold Resources by 5.9% in 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 during the last quarter. American Century Companies Inc. acquired a new stake in shares of NovaGold Resources in the 2nd quarter valued at about $2,029,000. Finally, Russell Investments Group Ltd. lifted its position in shares of 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 worth $6,359,000 after purchasing an additional 572,273 shares during the last quarter. 57.56% of the stock is owned by hedge funds and other institutional investors.

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.