AQR Capital Management LLC Invests $49,000 in NovaGold Resources Inc. (NYSEAMERICAN:NG)

AQR Capital Management LLC bought a new position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,249 shares of the mining company’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its stake in shares of NovaGold Resources by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 43,468 shares of the mining company’s stock valued at $130,000 after acquiring an additional 3,422 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of NovaGold Resources by 15.7% in the first quarter. Principal Financial Group Inc. now owns 32,529 shares of the mining company’s stock worth $98,000 after purchasing an additional 4,406 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in NovaGold Resources by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,210 shares of the mining company’s stock valued at $225,000 after buying an additional 8,441 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in NovaGold Resources during the 1st quarter valued at $28,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in NovaGold Resources by 17.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,249 shares of the mining company’s stock worth $208,000 after acquiring an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. National Bank Financial lowered NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th. Finally, Citigroup upgraded shares of NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

NovaGold Resources Trading Up 4.7 %

Shares of NovaGold Resources stock opened at $3.78 on Friday. NovaGold Resources Inc. has a 1 year low of $2.22 and a 1 year high of $4.88. The stock has a market capitalization of $1.26 billion, a P/E ratio of -29.08 and a beta of 1.05.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

About NovaGold Resources

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.