Raymond James Financial Inc. Acquires Shares of 586,042 NovaGold Resources Inc. (NYSEAMERICAN:NG)

Raymond James Financial Inc. bought a new stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the fourth quarter, Holdings Channel reports. The firm bought 586,042 shares of the mining company’s stock, valued at approximately $1,952,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Robertson Stephens Wealth Management LLC increased its holdings in NovaGold Resources by 2.1% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 270,546 shares of the mining company’s stock worth $901,000 after buying an additional 5,546 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in NovaGold Resources in the third quarter worth approximately $31,000. BNP Paribas Financial Markets increased its stake in shares of NovaGold Resources by 15.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 69,267 shares of the mining company’s stock worth $284,000 after purchasing an additional 9,009 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of NovaGold Resources by 67.3% during the 3rd 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. Finally, Geode Capital Management LLC raised its holdings in shares of NovaGold Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company’s stock valued at $12,497,000 after purchasing an additional 9,629 shares in the last quarter. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NovaGold Resources Price Performance

Shares of NG stock opened at $2.92 on Tuesday. The firm has a 50 day moving average of $3.19. NovaGold Resources Inc. has a twelve month low of $2.75 and a twelve month high of $4.88. The company has a market cap of $977.18 million, a P/E ratio of -22.46 and a beta of 1.05.

NovaGold Resources 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.