Van ECK Associates Corp lessened its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,344,910 shares of the mining company's stock after selling 250,897 shares during the period. Van ECK Associates Corp owned about 2.20% of NovaGold Resources worth $27,764,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in NovaGold Resources in the 1st quarter worth approximately $28,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of NovaGold Resources during the 1st quarter valued at approximately $32,000. AQR Capital Management LLC purchased a new position in shares of NovaGold Resources during the 2nd quarter valued at approximately $49,000. Evoke Wealth LLC purchased a new position in shares of NovaGold Resources during the 2nd quarter valued at approximately $66,000. Finally, Cypress Wealth Services LLC purchased a new position in shares of NovaGold Resources during the 2nd quarter valued at approximately $70,000. Hedge funds and other institutional investors own 57.56% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Citigroup upgraded NovaGold Resources to a "strong-buy" rating in a research report on Thursday, October 3rd. National Bank Financial lowered NovaGold Resources from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered NovaGold Resources from a "hold" rating to a "sell" rating in a report on Sunday, July 28th.
Read Our Latest Research Report on NG
NovaGold Resources Stock Down 0.3 %
Shares of NG traded down $0.01 during midday trading on Tuesday, reaching $3.51. The company had a trading volume of 854,758 shares, compared to its average volume of 1,737,720. NovaGold Resources Inc. has a 1-year low of $2.22 and a 1-year high of $4.88. The company has a market capitalization of $1.17 billion, a PE ratio of -27.00 and a beta of 1.06.
NovaGold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last issued its quarterly earnings data on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01).
About NovaGold Resources
(
Free Report)
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.
See Also
Before you consider NovaGold Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NovaGold Resources wasn't on the list.
While NovaGold Resources currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
