NovaGold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) was downgraded by equities research analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
Separately, StockNews.com downgraded shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Monday.
NovaGold Resources Stock Down 2.2 %
NovaGold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) last announced its quarterly earnings results on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.
Institutional Trading of NovaGold Resources
Institutional investors and hedge funds have recently made changes to their positions in the stock. Paulson & CO. Inc. raised its position in NovaGold Resources by 5.9% in the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after purchasing an additional 1,315,183 shares during the period. Kopernik Global Investors LLC raised its position in NovaGold Resources by 6.9% in the 4th quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock worth $40,864,000 after purchasing an additional 705,343 shares during the period. Russell Investments Group Ltd. raised its position in NovaGold Resources by 37.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,119,689 shares of the mining company’s stock worth $6,359,000 after purchasing an additional 572,273 shares during the period. Vanguard Group Inc. raised its position in NovaGold Resources by 3.7% in the 1st 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 period. Finally, Van ECK Associates Corp raised its position in NovaGold Resources by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 9,472,929 shares of the mining company’s stock worth $35,429,000 after purchasing an additional 263,264 shares during the period. Hedge funds and other institutional investors own 57.56% of the company’s stock.
About NovaGold Resources
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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