Goehring & Rozencwajg Associates LLC Sells 342,663 Shares of Novagold Resources Inc. $NG

Goehring & Rozencwajg Associates LLC decreased its position in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 30.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 799,826 shares of the mining company’s stock after selling 342,663 shares during the quarter. Goehring & Rozencwajg Associates LLC owned 0.18% of Novagold Resources worth $7,454,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NG. Van ECK Associates Corp grew its holdings in Novagold Resources by 29.2% during the 3rd quarter. Van ECK Associates Corp now owns 8,159,352 shares of the mining company’s stock worth $71,802,000 after acquiring an additional 1,842,582 shares during the last quarter. Vanguard Group Inc. grew its holdings in Novagold Resources by 23.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,587,516 shares of the mining company’s stock worth $128,840,000 after acquiring an additional 2,815,780 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Novagold Resources by 89.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,080,198 shares of the mining company’s stock worth $9,506,000 after acquiring an additional 510,253 shares during the last quarter. Capital World Investors grew its holdings in Novagold Resources by 12.8% during the 3rd quarter. Capital World Investors now owns 17,666,000 shares of the mining company’s stock worth $155,461,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Novagold Resources by 8.3% during the 3rd quarter. TD Asset Management Inc now owns 905,975 shares of the mining company’s stock worth $8,009,000 after acquiring an additional 69,249 shares during the last quarter. Institutional investors own 57.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NG. Scotiabank raised shares of Novagold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Novagold Resources from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Morgan Stanley began coverage on shares of Novagold Resources in a report on Thursday, April 9th. They set an “overweight” rating and a $13.80 price objective on the stock. Canaccord Genuity Group began coverage on shares of Novagold Resources in a report on Friday, March 27th. They set a “speculative buy” rating and a $13.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their price objective on shares of Novagold Resources from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $13.26.

Novagold Resources Stock Performance

Shares of NYSEAMERICAN:NG opened at $7.44 on Friday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -28.62 and a beta of 0.77. The firm’s 50 day simple moving average is $8.59 and its 200 day simple moving average is $9.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 88.72 and a quick ratio of 88.72. Novagold Resources Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $14.40.

About Novagold Resources

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.