Principal Financial Group Inc. grew its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG) by 6.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 43,075 shares of the mining company's stock after acquiring an additional 2,737 shares during the quarter. Principal Financial Group Inc.'s holdings in NovaGold Resources were worth $333,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of NG. St. Johns Investment Management Company LLC increased its stake in shares of NovaGold Resources by 545.0% during the first 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 during the period. Bridgewater Associates LP bought a new stake in shares of NovaGold Resources in the 4th quarter worth $88,000. Gotham Asset Management LLC bought a new stake in shares of NovaGold Resources in the 4th quarter worth $93,000. Williams Jones Wealth Management LLC. acquired a new stake in shares of NovaGold Resources in the fourth quarter valued at $124,000. Finally, Aigen Investment Management LP bought a new position in NovaGold Resources during the first quarter valued at about $161,000. Institutional investors own 52.50% of the company's stock.
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Separately, National Bank Financial began coverage on shares of NovaGold Resources in a report on Wednesday, July 20th. They set an "outperform" rating for the company.
NovaGold Resources Stock Up 4.6 %
Shares of NG opened at $4.28 on Friday. NovaGold Resources Inc. has a 52 week low of $4.06 and a 52 week high of $8.36. The company has a current ratio of 38.66, a quick ratio of 38.66 and a debt-to-equity ratio of 1.48. The company has a market cap of $1.43 billion, a P/E ratio of -35.66 and a beta of 0.65.NovaGold Resources (NYSEAMERICAN:NG – Get Rating) (TSE:NG) last released its quarterly earnings data 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). As a group, equities research analysts anticipate that NovaGold Resources Inc. will post -0.09 earnings per share 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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