Raymond James Financial Inc. Acquires New Shares in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Raymond James Financial Inc. bought a new position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 586,042 shares of the mining company’s stock, valued at approximately $1,952,000. Raymond James Financial Inc. owned 0.18% of NovaGold Resources at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of NovaGold Resources by 19.9% during the third quarter. Barclays PLC now owns 917,835 shares of the mining company’s stock worth $3,762,000 after buying an additional 152,164 shares during the period. State Street Corp boosted its position in NovaGold Resources by 5.0% during the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock worth $17,717,000 after acquiring an additional 206,610 shares during the period. JPMorgan Chase & Co. grew its stake in shares of NovaGold Resources by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 394,749 shares of the mining company’s stock worth $1,618,000 after purchasing an additional 69,785 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of NovaGold Resources by 26.5% during the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock valued at $5,377,000 after purchasing an additional 267,713 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of NovaGold Resources by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,146,787 shares of the mining company’s stock valued at $4,702,000 after purchasing an additional 195,117 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded shares of NovaGold Resources to a “hold” rating in a research note on Friday, March 21st.

NovaGold Resources Stock Performance

Shares of NYSEAMERICAN NG opened at $2.92 on Tuesday. NovaGold Resources Inc. has a 12 month low of $2.75 and a 12 month high of $4.88. The stock has a market capitalization of $977.18 million, a P/E ratio of -22.46 and a beta of 1.05. The company’s fifty day moving average is $3.19.

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.