NovaGold Resources Inc. (NYSEAMERICAN:NG) is Kopernik Global Investors LLC's 7th Largest Position

Kopernik Global Investors LLC grew its position in NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,006,844 shares of the mining company's stock after purchasing an additional 3,187,981 shares during the period. NovaGold Resources comprises about 6.2% of Kopernik Global Investors LLC's portfolio, making the stock its 7th largest position. Kopernik Global Investors LLC owned approximately 5.08% of NovaGold Resources worth $56,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in shares of NovaGold Resources by 19.9% during the third quarter. Barclays PLC now owns 917,835 shares of the mining company's stock worth $3,762,000 after acquiring an additional 152,164 shares in the last quarter. State Street Corp increased its holdings in NovaGold Resources by 5.0% during the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company's stock worth $17,717,000 after purchasing an additional 206,610 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of NovaGold Resources by 21.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 394,749 shares of the mining company's stock valued at $1,618,000 after purchasing an additional 69,785 shares during the period. Wellington Management Group LLP lifted its holdings in shares of NovaGold Resources by 20.5% in the third quarter. Wellington Management Group LLP now owns 1,146,787 shares of the mining company's stock valued at $4,702,000 after purchasing an additional 195,117 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NovaGold Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company's stock worth $12,497,000 after buying an additional 9,629 shares in the last quarter. 57.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

NovaGold Resources Stock Performance

Shares of NYSEAMERICAN NG traded down $0.03 during trading hours on Friday, reaching $2.98. 2,264,830 shares of the stock were exchanged, compared to its average volume of 1,678,638. The stock's fifty day simple moving average is $3.04 and its 200 day simple moving average is $3.39. The firm has a market capitalization of $997.26 million, a price-to-earnings ratio of -22.92 and a beta of 1.05. NovaGold Resources Inc. has a 52 week low of $2.26 and a 52 week high of $4.88.

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.