Wellington Management Group LLP grew its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Free Report) (TSE:NG) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,061,241 shares of the mining company’s stock after purchasing an additional 57,054 shares during the period. Wellington Management Group LLP owned approximately 0.32% of NovaGold Resources worth $3,969,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. HTLF Bank acquired a new position in NovaGold Resources during the fourth quarter worth $67,000. Oak Thistle LLC purchased a new stake in shares of NovaGold Resources in the 4th quarter worth about $75,000. Algert Global LLC acquired a new stake in NovaGold Resources in the 3rd quarter valued at about $96,000. Dynamic Technology Lab Private Ltd purchased a new position in NovaGold Resources during the 4th quarter valued at about $105,000. Finally, Hsbc Holdings PLC raised its position in NovaGold Resources by 13.1% during the third quarter. Hsbc Holdings PLC now owns 52,845 shares of the mining company’s stock worth $202,000 after acquiring an additional 6,128 shares during the last quarter. 57.56% of the stock is owned by institutional investors and hedge funds.
NovaGold Resources Price Performance
Shares of NYSEAMERICAN:NG opened at $3.46 on Friday. NovaGold Resources Inc. has a 1 year low of $2.22 and a 1 year high of $4.66. The stock has a market cap of $1.16 billion, a PE ratio of -26.62 and a beta of 1.18.
Analyst Ratings Changes
Separately, StockNews.com upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Thursday.
Read Our Latest Stock Report on NG
NovaGold Resources Company Profile
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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