Cedar Wealth Management LLC Has $1.17 Million Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cedar Wealth Management LLC boosted its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 129.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,283 shares of the mining company’s stock after purchasing an additional 191,402 shares during the quarter. Cedar Wealth Management LLC owned about 0.10% of NovaGold Resources worth $1,174,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in NovaGold Resources during the 4th quarter worth approximately $105,000. Kopernik Global Investors LLC boosted its position in shares of NovaGold Resources by 6.9% in the fourth quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock valued at $40,864,000 after acquiring an additional 705,343 shares during the period. CIBC Asset Management Inc grew its stake in shares of NovaGold Resources by 2.7% in the fourth quarter. CIBC Asset Management Inc now owns 238,094 shares of the mining company’s stock valued at $892,000 after acquiring an additional 6,268 shares in the last quarter. Paulson & CO. Inc. increased its position in NovaGold Resources by 5.9% during the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after acquiring an additional 1,315,183 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its stake in NovaGold Resources by 4.1% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 269,368 shares of the mining company’s stock worth $1,007,000 after purchasing an additional 10,505 shares in the last quarter. 57.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. National Bank Financial downgraded NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Sunday, July 28th.

NovaGold Resources Trading Up 1.4 %

Shares of NovaGold Resources stock opened at $4.23 on Friday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -32.38 and a beta of 1.05. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its earnings results on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.

NovaGold Resources 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.