Amundi Boosts Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Amundi raised its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 11.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,414,702 shares of the mining company’s stock after buying an additional 251,583 shares during the period. Amundi’s holdings in NovaGold Resources were worth $8,138,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. bought a new position in shares of NovaGold Resources during the 3rd quarter worth $31,000. Toronto Dominion Bank lifted its stake in NovaGold Resources by 67.3% in the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after acquiring an additional 9,377 shares during the period. Banque Cantonale Vaudoise bought a new position in NovaGold Resources during the 3rd quarter worth about $102,000. Point72 Asset Management L.P. purchased a new position in NovaGold Resources during the 3rd quarter valued at about $121,000. Finally, XTX Topco Ltd raised its holdings in shares of NovaGold Resources by 52.1% in the 3rd quarter. XTX Topco Ltd now owns 42,004 shares of the mining company’s stock valued at $172,000 after purchasing an additional 14,397 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors.

NovaGold Resources Trading Down 2.3 %

NYSEAMERICAN NG opened at $3.37 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -25.92 and a beta of 1.05. The company’s 50 day simple moving average is $3.22. NovaGold Resources Inc. has a 52-week low of $2.56 and a 52-week high of $4.88.

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.