Fmr LLC Trims Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

FMR LLC lowered its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,968,760 shares of the mining company's stock after selling 2,260,014 shares during the period. FMR LLC owned 4.47% of NovaGold Resources worth $61,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NG. Vanguard Group Inc. increased its position in NovaGold Resources by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company's stock worth $31,134,000 after purchasing an additional 367,401 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in NovaGold Resources by 17.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,249 shares of the mining company's stock worth $208,000 after purchasing an additional 10,500 shares during the last quarter. SG Americas Securities LLC increased its position in NovaGold Resources by 59.6% in the second quarter. SG Americas Securities LLC now owns 165,952 shares of the mining company's stock worth $574,000 after purchasing an additional 61,982 shares during the last quarter. Cypress Wealth Services LLC bought a new stake in NovaGold Resources in the second quarter worth $70,000. Finally, Bank of New York Mellon Corp increased its position in NovaGold Resources by 24.0% during the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company's stock valued at $3,105,000 after acquiring an additional 173,817 shares during the last quarter. Institutional investors own 57.56% of the company's stock.

NovaGold Resources Price Performance

Shares of NG stock traded down $0.07 during mid-day trading on Friday, hitting $3.42. 1,378,274 shares of the stock traded hands, compared to its average volume of 1,262,389. 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 released its quarterly earnings results on Wednesday, October 2nd. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of NovaGold Resources to a "strong-buy" rating in a research note 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.