BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 21,091 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 13.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,380 shares of the mining company’s stock after selling 21,091 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NovaGold Resources were worth $481,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in NovaGold Resources by 2.7% in the 4th quarter. CIBC Asset Management Inc now owns 238,094 shares of the mining company’s stock valued at $892,000 after buying an additional 6,268 shares during the last quarter. Paulson & CO. Inc. grew its position in NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after acquiring an additional 1,315,183 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in shares of NovaGold Resources by 4.1% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 269,368 shares of the mining company’s stock worth $1,007,000 after acquiring an additional 10,505 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of NovaGold Resources in the 4th quarter valued at approximately $205,000. Finally, Wellington Management Group LLP increased its position in NovaGold Resources by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 1,061,241 shares of the mining company’s stock worth $3,969,000 after purchasing an additional 57,054 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NG. National Bank Financial downgraded shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. StockNews.com downgraded NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th.

NovaGold Resources Trading Down 3.0 %

Shares of NYSEAMERICAN:NG opened at $4.23 on Monday. NovaGold Resources Inc. has a 52 week low of $2.22 and a 52 week high of $4.88. The firm has a market cap of $1.42 billion, a PE ratio of -32.54 and a beta of 1.05.

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.