Novagold Resources Inc. (NG) Stake Boosted by Royce & Associates LP
Royce & Associates LP boosted its position in Novagold Resources Inc. (NYSEMKT:NG) by 170.0% during the second quarter, Holdings Channel reports. The firm owned 135,000 shares of the company’s stock after buying an additional 85,000 shares during the period. Royce & Associates LP’s holdings in Novagold Resources were worth $826,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in NG. Norges Bank acquired a new stake in shares of Novagold Resources during the fourth quarter worth approximately $14,525,000. Alps Advisors Inc. boosted its stake in shares of Novagold Resources by 33.5% in the second quarter. Alps Advisors Inc. now owns 870,720 shares of the company’s stock worth $5,329,000 after buying an additional 218,377 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Novagold Resources during the second quarter worth $4,071,000. HBK Investments L P boosted its stake in shares of Novagold Resources by 566.5% in the first quarter. HBK Investments L P now owns 300,300 shares of the company’s stock worth $1,514,000 after buying an additional 255,242 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its stake in shares of Novagold Resources by 48.5% in the second quarter. Quantitative Investment Management LLC now owns 175,200 shares of the company’s stock worth $1,072,000 after buying an additional 57,200 shares in the last quarter.
Novagold Resources Inc. (NYSEMKT:NG) traded down 0.56% on Tuesday, reaching $5.29. 895,699 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.69 billion. Novagold Resources Inc. has a 1-year low of $3.05 and a 1-year high of $7.29. The firm’s 50 day moving average is $6.04 and its 200 day moving average is $6.00.
Novagold Resources (NYSEMKT:NG) last issued its quarterly earnings results on Monday, June 27th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.01. Analysts expect that Novagold Resources Inc. will post ($0.09) EPS for the current year.
NG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Novagold Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Royal Bank Of Canada reissued a “sector perform” rating on shares of Novagold Resources in a report on Wednesday, June 29th.
In related news, Director Gillyeard J. Leathley sold 13,668 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $7.17, for a total value of $97,999.56. Following the completion of the transaction, the director now owns 115,396 shares in the company, valued at approximately $827,389.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Novagold Resources Company Profile
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.
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