NovaGold Resources Inc. (NYSEAMERICAN:NG) Shares Bought by State Street Corp

State Street Corp increased its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,321,172 shares of the mining company’s stock after acquiring an additional 206,610 shares during the quarter. State Street Corp owned approximately 1.29% of NovaGold Resources worth $17,717,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest & Ethical Investments L.P. purchased a new stake in NovaGold Resources during the third quarter valued at about $31,000. AQR Capital Management LLC purchased a new position in shares of NovaGold Resources in the second quarter valued at $49,000. Evoke Wealth LLC purchased a new stake in shares of NovaGold Resources during the second quarter worth about $66,000. Banque Cantonale Vaudoise purchased a new position in shares of NovaGold Resources during the 3rd quarter valued at approximately $102,000. Finally, Fore Capital LLC bought a new position in NovaGold Resources during the 2nd quarter valued at $104,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

NovaGold Resources Price Performance

Shares of NYSEAMERICAN NG opened at $3.27 on Tuesday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -25.15 and a beta of 1.07. NovaGold Resources Inc. has a 52-week low of $2.22 and a 52-week high of $4.88.

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

Analyst Upgrades and Downgrades

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

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.