Goehring & Rozencwajg Associates LLC grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG – Free Report) (TSE:NG) by 11.6% in the second quarter, HoldingsChannel reports. The fund owned 325,768 shares of the mining company’s stock after acquiring an additional 33,900 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in NovaGold Resources were worth $1,127,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of NG. First Eagle Investment Management LLC lifted its holdings in NovaGold Resources by 16.5% in the second quarter. First Eagle Investment Management LLC now owns 21,485,443 shares of the mining company’s stock valued at $74,340,000 after buying an additional 3,042,480 shares during the period. Lingotto Investment Management LLP lifted its holdings in NovaGold Resources by 10.2% in the second quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock valued at $67,222,000 after buying an additional 1,790,528 shares during the period. Firestone Capital Management acquired a new position in NovaGold Resources in the second quarter valued at approximately $110,000. American Century Companies Inc. acquired a new position in NovaGold Resources in the second quarter valued at approximately $2,029,000. Finally, Ground Swell Capital LLC acquired a new position in NovaGold Resources in the second quarter valued at approximately $124,000. 57.56% of the stock is owned by institutional investors.
NovaGold Resources Trading Down 2.3 %
NG opened at $4.17 on Thursday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -32.08 and a beta of 1.05. NovaGold Resources Inc. has a twelve month low of $2.22 and a twelve month high of $4.88.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NG. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Sunday, July 28th. National Bank Financial lowered shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th.
View Our Latest Stock Analysis on NovaGold Resources
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.
See Also
- Five stocks we like better than NovaGold Resources
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Why General Mills Is the Perfect Hedge for S&P 500 Volatility
- Best Aerospace Stocks Investing
- Viking Therapeutics Is Having a Year to Remember: Time to Buy?
- How to Invest in the Best Canadian Stocks
- Leverage Proven Stock Factors With These Top 3 Smart Beta ETFs
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:NG – Free Report) (TSE: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.