Bank of New York Mellon Corp Lowers Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Bank of New York Mellon Corp trimmed its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 659,655 shares of the mining company’s stock after selling 9,735 shares during the period. Bank of New York Mellon Corp’s holdings in NovaGold Resources were worth $2,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest & Ethical Investments L.P. purchased a new stake in shares of NovaGold Resources in the third quarter worth about $31,000. Toronto Dominion Bank raised 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 valued at $96,000 after purchasing an additional 9,377 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in NovaGold Resources in the third quarter valued at approximately $102,000. Point72 Asset Management L.P. purchased a new stake in NovaGold Resources in the third quarter valued at approximately $121,000. Finally, XTX Topco Ltd raised its stake in NovaGold Resources by 52.1% in the third 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 owned by hedge funds and other institutional investors.

NovaGold Resources Price Performance

Shares of NG opened at $3.39 on Friday. The company has a 50 day moving average of $3.23. The stock has a market capitalization of $1.13 billion, a P/E ratio of -26.08 and a beta of 1.05. NovaGold Resources Inc. has a 1-year low of $2.56 and a 1-year 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.