UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,627 shares of the mining company’s stock after selling 41,485 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.06% of NovaGold Resources worth $831,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of NovaGold Resources by 24.0% during the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company’s stock worth $3,105,000 after buying an additional 173,817 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 8,441 shares during the period. CIBC Asset Management Inc grew its position in NovaGold Resources by 9.7% in the 2nd quarter. CIBC Asset Management Inc now owns 304,046 shares of the mining company’s stock valued at $1,064,000 after acquiring an additional 26,984 shares in the last quarter. Rhumbline Advisers grew its position in NovaGold Resources by 18.1% in the 2nd quarter. Rhumbline Advisers now owns 394,138 shares of the mining company’s stock valued at $1,364,000 after acquiring an additional 60,396 shares in the last quarter. Finally, Fore Capital LLC purchased a new stake in NovaGold Resources during the second quarter worth about $104,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised NovaGold Resources to a “strong-buy” rating in a research report on Thursday, October 3rd.

NovaGold Resources Stock Performance

Shares of NovaGold Resources stock opened at $3.29 on Friday. NovaGold Resources Inc. has a 52 week low of $2.22 and a 52 week high of $4.88. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -25.31 and a beta of 1.07.

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).

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.