Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,500 shares of the mining company's stock after acquiring an additional 30,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in NovaGold Resources were worth $1,113,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of NG. St. Johns Investment Management Company LLC boosted its holdings in shares of NovaGold Resources by 545.0% during the 1st quarter. St. Johns Investment Management Company LLC now owns 9,900 shares of the mining company's stock valued at $77,000 after acquiring an additional 8,365 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in NovaGold Resources during the 1st quarter worth $78,000. Bridgewater Associates LP bought a new position in NovaGold Resources during the 4th quarter worth $88,000. Gotham Asset Management LLC bought a new position in NovaGold Resources during the 4th quarter worth $93,000. Finally, Williams Jones Wealth Management LLC. bought a new position in NovaGold Resources during the 4th quarter worth $124,000. Institutional investors and hedge funds own 52.50% of the company's stock.
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Separately, National Bank Financial initiated coverage on NovaGold Resources in a research report on Wednesday, July 20th. They set an "outperform" rating for the company.
NovaGold Resources Stock Up 4.6 %
Shares of NovaGold Resources stock opened at $4.28 on Friday. NovaGold Resources Inc. has a one year low of $4.06 and a one year high of $8.36. The stock has a market capitalization of $1.43 billion, a P/E ratio of -36.50 and a beta of 0.65. The company has a debt-to-equity ratio of 1.48, a current ratio of 38.66 and a quick ratio of 38.66.NovaGold Resources (NYSEAMERICAN:NG – Get Rating) (TSE:NG) last released its quarterly earnings results on Wednesday, June 29th. The mining company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Research analysts anticipate that NovaGold Resources Inc. will post -0.09 EPS for the current year.
NovaGold Resources Profile
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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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