Bank of Montreal Can Grows Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Bank of Montreal Can lifted its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 26.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,278,090 shares of the mining company's stock after acquiring an additional 267,713 shares during the period. Bank of Montreal Can owned 0.38% of NovaGold Resources worth $5,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in NovaGold Resources in the second quarter valued at approximately $49,000. Evoke Wealth LLC bought a new stake in NovaGold Resources during the 2nd quarter valued at $66,000. Cypress Wealth Services LLC acquired a new position in NovaGold Resources during the second quarter worth $70,000. Banque Cantonale Vaudoise bought a new position in shares of NovaGold Resources in the third quarter valued at $102,000. Finally, Fore Capital LLC acquired a new position in shares of NovaGold Resources during the second quarter valued at about $104,000. 57.56% of the stock is owned by institutional investors.

NovaGold Resources Stock Down 1.3 %

NYSEAMERICAN:NG traded down $0.05 on Wednesday, reaching $3.69. 258,401 shares of the company's stock were exchanged, compared to its average volume of 1,706,319. The firm has a market capitalization of $1.23 billion, a PE ratio of -28.77 and a beta of 1.07. NovaGold Resources Inc. has a 52 week low of $2.22 and a 52 week high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last announced its quarterly earnings results on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded NovaGold Resources to a "strong-buy" rating in a report on Thursday, October 3rd.

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.