Geode Capital Management LLC Raises Stock Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Geode Capital Management LLC increased its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NGFree Report) (TSE:NG) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,046,926 shares of the mining company’s stock after acquiring an additional 9,629 shares during the quarter. Geode Capital Management LLC’s holdings in NovaGold Resources were worth $12,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NG. Bank of New York Mellon Corp raised its holdings in shares of NovaGold Resources by 24.0% during the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company’s stock worth $3,105,000 after purchasing an additional 173,817 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NovaGold Resources by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,210 shares of the mining company’s stock valued at $225,000 after buying an additional 8,441 shares in the last quarter. CIBC Asset Management Inc increased its holdings in NovaGold Resources by 9.7% in the second quarter. CIBC Asset Management Inc now owns 304,046 shares of the mining company’s stock valued at $1,064,000 after buying an additional 26,984 shares in the last quarter. Rhumbline Advisers increased its holdings in NovaGold Resources by 18.1% in the second quarter. Rhumbline Advisers now owns 394,138 shares of the mining company’s stock valued at $1,364,000 after buying an additional 60,396 shares in the last quarter. Finally, Fore Capital LLC purchased a new position in NovaGold Resources in the second quarter valued at $104,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised shares of NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

Get Our Latest Report on NovaGold Resources

NovaGold Resources Price Performance

NG opened at $3.27 on Tuesday. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -25.15 and a beta of 1.07.

NovaGold Resources (NYSEAMERICAN:NGGet Free Report) (TSE:NG) last released its earnings results on Wednesday, October 2nd. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).

NovaGold Resources Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NovaGold Resources Inc. (NYSEAMERICAN:NGFree Report) (TSE:NG).

Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

Receive News & Ratings for NovaGold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources and related companies with MarketBeat.com's FREE daily email newsletter.