Shell Asset Management Co. Sells 4,000 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Shell Asset Management Co. lessened its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,989 shares of the mining company’s stock after selling 4,000 shares during the period. Shell Asset Management Co.’s holdings in NovaGold Resources were worth $119,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Alpha Cubed Investments LLC acquired a new position in shares of NovaGold Resources during the 2nd quarter worth about $48,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NovaGold Resources during the 1st quarter worth about $78,000. Engineers Gate Manager LP acquired a new position in shares of NovaGold Resources during the 1st quarter worth about $85,000. Aire Advisors LLC acquired a new position in shares of NovaGold Resources during the 2nd quarter worth about $96,000. Finally, Versor Investments LP acquired a new position in shares of NovaGold Resources during the 2nd quarter worth about $141,000. 52.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NG. National Bank Financial raised their target price on shares of NovaGold Resources from C$9.00 to C$10.00 in a research note on Thursday, October 13th. B. Riley cut their target price on shares of NovaGold Resources from $28.00 to $10.00 in a research note on Tuesday, October 25th.

NovaGold Resources Price Performance

Shares of NYSEAMERICAN:NG opened at $5.44 on Friday. The company has a 50 day moving average price of $5.44. The company has a market capitalization of $1.81 billion, a PE ratio of -36.26 and a beta of 0.73. The company has a debt-to-equity ratio of 2.96, a current ratio of 45.44 and a quick ratio of 45.43. NovaGold Resources Inc. has a 1 year low of $4.06 and a 1 year high of $8.36.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last posted its earnings results on Tuesday, October 4th. The mining company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). As a group, analysts anticipate that NovaGold Resources Inc. will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory A. Lang sold 45,382 shares of NovaGold Resources stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $5.57, for a total transaction of $252,777.74. Following the transaction, the chief executive officer now owns 9,049 shares in the company, valued at $50,402.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Gregory A. Lang sold 45,382 shares of NovaGold Resources stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $5.57, for a total transaction of $252,777.74. Following the transaction, the chief executive officer now owns 9,049 shares in the company, valued at $50,402.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory A. Lang sold 20,454 shares of NovaGold Resources stock in a transaction on Friday, November 4th. The stock was sold at an average price of $4.80, for a total transaction of $98,179.20. Following the transaction, the chief executive officer now owns 8,801 shares in the company, valued at approximately $42,244.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,880 shares of company stock valued at $369,483. 3.25% of the stock is currently owned by insiders.

NovaGold Resources Profile

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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.

See Also

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Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

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