Cibc World Markets Corp Buys Shares of 22,826 NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cibc World Markets Corp purchased a new position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,826 shares of the mining company’s stock, valued at approximately $76,000.

Several other large investors have also modified their holdings of NG. Northwest & Ethical Investments L.P. purchased a new stake in NovaGold Resources during the third quarter worth about $31,000. Toronto Dominion Bank raised its holdings in NovaGold Resources by 67.3% during the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock worth $96,000 after purchasing an additional 9,377 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in NovaGold Resources during the third quarter worth $121,000. Wealthfront Advisers LLC acquired a new stake in NovaGold Resources in the fourth quarter valued at $139,000. Finally, XTX Topco Ltd increased its position in shares of 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 buying an additional 14,397 shares in the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of NovaGold Resources to a “hold” rating in a report on Friday, March 21st.

NovaGold Resources Stock Up 1.3 %

Shares of NG stock opened at $3.10 on Friday. The company has a 50-day moving average price of $3.21. The firm has a market cap of $1.04 billion, a P/E ratio of -23.85 and a beta of 1.05. NovaGold Resources Inc. has a twelve month low of $2.75 and a twelve month high of $4.88.

About NovaGold Resources

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.