Bank of Nova Scotia bought a new stake in NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 65,173 shares of the mining company’s stock, valued at approximately $296,000.
Other hedge funds have also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of NovaGold Resources by 5.0% during the 2nd quarter. FMR LLC now owns 24,090,234 shares of the mining company’s stock worth $109,231,000 after purchasing an additional 1,156,249 shares during the period. Vanguard Group Inc. grew its holdings in shares of NovaGold Resources by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,855,202 shares of the mining company’s stock worth $22,140,000 after purchasing an additional 322,123 shares during the period. Point72 Europe London LLP purchased a new position in NovaGold Resources in the 2nd quarter worth approximately $11,557,000. Clearbridge Investments LLC boosted its holdings in NovaGold Resources by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 2,458,184 shares of the mining company’s stock worth $11,971,000 after acquiring an additional 20,780 shares during the period. Finally, Morgan Stanley boosted its holdings in NovaGold Resources by 52.1% in the 1st quarter. Morgan Stanley now owns 1,800,749 shares of the mining company’s stock worth $8,770,000 after acquiring an additional 617,162 shares during the period.
In other news, insider Gregory A. Lang sold 6,783 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $4.10, for a total value of $27,810.30. Following the completion of the transaction, the insider now owns 1,381,746 shares of the company’s stock, valued at $5,665,158.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David Deisley sold 43,801 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $4.28, for a total value of $187,468.28. Following the transaction, the vice president now directly owns 913,521 shares of the company’s stock, valued at approximately $3,909,869.88. The disclosure for this sale can be found here. Insiders sold 143,976 shares of company stock worth $602,797 over the last ninety days.
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NovaGold Resources Inc. (NYSEMKT NG) traded up $0.04 during mid-day trading on Friday, hitting $4.16. The company had a trading volume of 991,575 shares, compared to its average volume of 1,530,000. NovaGold Resources Inc. has a twelve month low of $3.78 and a twelve month high of $6.21.
NG has been the subject of a number of analyst reports. Zacks Investment Research upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 26th.
About NovaGold Resources
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.
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