First Trust Direct Indexing L.P. reduced its position in NovaGold Resources Inc. (NYSEAMERICAN:NG – Free Report) (TSE:NG) by 14.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,806 shares of the mining company’s stock after selling 4,370 shares during the period. First Trust Direct Indexing L.P.’s holdings in NovaGold Resources were worth $103,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Exor Capital LLP boosted its position in NovaGold Resources by 6.3% during the fourth quarter. Exor Capital LLP now owns 15,702,926 shares of the mining company’s stock worth $136,877,000 after purchasing an additional 926,148 shares during the period. BlackRock Inc. boosted its holdings in shares of NovaGold Resources by 1.2% during the 1st quarter. BlackRock Inc. now owns 12,635,928 shares of the mining company’s stock worth $97,676,000 after buying an additional 155,685 shares during the period. Vanguard Group Inc. grew its stake in NovaGold Resources by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,190,167 shares of the mining company’s stock valued at $43,102,000 after buying an additional 225,845 shares during the last quarter. Kopernik Global Investors LLC raised its holdings in NovaGold Resources by 1.0% in the 1st quarter. Kopernik Global Investors LLC now owns 8,840,561 shares of the mining company’s stock valued at $54,988,000 after acquiring an additional 86,388 shares during the period. Finally, State Street Corp lifted its position in NovaGold Resources by 3.9% during the first quarter. State Street Corp now owns 3,567,254 shares of the mining company’s stock worth $22,188,000 after acquiring an additional 132,388 shares during the last quarter. Institutional investors own 53.84% of the company’s stock.
NovaGold Resources Stock Performance
Shares of NYSEAMERICAN NG opened at $4.02 on Thursday. The company has a 50 day simple moving average of $5.58. The firm has a market cap of $1.34 billion, a PE ratio of -25.09 and a beta of 0.81. NovaGold Resources Inc. has a 52-week low of $3.84 and a 52-week high of $6.98. The company has a debt-to-equity ratio of 14.75, a quick ratio of 40.75 and a current ratio of 40.75.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on NG. StockNews.com cut shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. National Bank Financial decreased their target price on shares of NovaGold Resources from C$10.75 to C$9.50 in a research report on Friday, July 21st.
Check Out Our Latest Report on NovaGold Resources
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.
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