Geode Capital Management LLC Acquires 9,629 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Geode Capital Management LLC lifted its holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,046,926 shares of the mining company’s stock after buying an additional 9,629 shares during the period. Geode Capital Management LLC owned about 0.91% of NovaGold Resources worth $12,497,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Northwest & Ethical Investments L.P. bought a new position in NovaGold Resources during the 3rd quarter valued at about $31,000. AQR Capital Management LLC bought a new position in NovaGold Resources during the 2nd quarter valued at about $49,000. Evoke Wealth LLC bought a new position in NovaGold Resources during the 2nd quarter valued at about $66,000. Banque Cantonale Vaudoise bought a new position in NovaGold Resources during the 3rd quarter valued at about $102,000. Finally, Point72 Asset Management L.P. bought a new position in NovaGold Resources during the 3rd quarter valued at about $121,000. 57.56% of the stock is currently owned by institutional investors.

NovaGold Resources Price Performance

Shares of NG opened at $3.27 on Tuesday. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88. The company has a market capitalization of $1.09 billion, a PE ratio of -25.15 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

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

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.