Global X Management Co. LLC cut its stake in NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 348,481 shares of the mining company’s stock after selling 3,912 shares during the period. Global X Management Co. LLC’s holdings in NovaGold Resources were worth $1,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NG. Van ECK Associates Corp increased its position in shares of NovaGold Resources by 30.9% in the first quarter. Van ECK Associates Corp now owns 33,502,151 shares of the mining company’s stock valued at $163,155,000 after buying an additional 7,908,873 shares in the last quarter. Vanguard Group Inc. increased its position in shares of NovaGold Resources by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,533,079 shares of the mining company’s stock valued at $22,076,000 after buying an additional 140,796 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of NovaGold Resources by 0.9% in the first quarter. Clearbridge Investments LLC now owns 2,458,184 shares of the mining company’s stock valued at $11,971,000 after buying an additional 20,780 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of NovaGold Resources by 9.6% in the first quarter. Wells Fargo & Company MN now owns 1,980,886 shares of the mining company’s stock valued at $9,647,000 after buying an additional 172,821 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of NovaGold Resources by 52.1% in the first quarter. Morgan Stanley now owns 1,800,749 shares of the mining company’s stock valued at $8,770,000 after buying an additional 617,162 shares in the last quarter.

NovaGold Resources Inc. (NG) opened at 4.01 on Friday. The company’s market cap is $1.29 billion. The company’s 50-day moving average is $4.45 and its 200-day moving average is $4.69. NovaGold Resources Inc. has a 12 month low of $3.78 and a 12 month high of $6.66.

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A number of brokerages recently weighed in on NG. Zacks Investment Research downgraded shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub upgraded shares of NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd.

In other NovaGold Resources news, VP David A. Ottewell sold 43,224 shares of NovaGold Resources stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $4.65, for a total transaction of $200,991.60. Following the completion of the sale, the vice president now directly owns 788,540 shares in the company, valued at approximately $3,666,711. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gillyeard J. Leathley sold 7,000 shares of NovaGold Resources stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $5.65, for a total transaction of $39,550.00. Following the sale, the director now owns 84,940 shares of the company’s stock, valued at $479,911. The disclosure for this sale can be found here.

About NovaGold Resources

Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.

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Institutional Ownership by Quarter for NovaGold Resources (NYSEMKT:NG)

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