Hsbc Holdings PLC Raises Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Hsbc Holdings PLC raised its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG) by 35.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,471 shares of the mining company’s stock after acquiring an additional 17,272 shares during the period. Hsbc Holdings PLC’s holdings in NovaGold Resources were worth $318,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Exor Capital LLP increased its holdings in NovaGold Resources by 13.6% in the 2nd quarter. Exor Capital LLP now owns 14,211,573 shares of the mining company’s stock valued at $68,358,000 after purchasing an additional 1,705,036 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of NovaGold Resources by 221.4% in the first quarter. Renaissance Technologies LLC now owns 615,700 shares of the mining company’s stock valued at $4,758,000 after buying an additional 424,107 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of NovaGold Resources during the 2nd quarter valued at about $1,809,000. JPMorgan Chase & Co. lifted its position in NovaGold Resources by 47.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,148,564 shares of the mining company’s stock worth $8,878,000 after acquiring an additional 367,773 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in NovaGold Resources by 13.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,364,244 shares of the mining company’s stock worth $10,545,000 after acquiring an additional 161,472 shares during the period. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upped their target price on NovaGold Resources from C$10.00 to C$11.00 in a research report on Friday, January 13th.

Insider Buying and Selling

In other news, Director Anthony P. Walsh sold 12,479 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $6.27, for a total value of $78,243.33. Following the completion of the transaction, the director now directly owns 41,751 shares in the company, valued at $261,778.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.25% of the company’s stock.

NovaGold Resources Price Performance

Shares of NYSEAMERICAN:NG opened at $5.40 on Thursday. The firm’s 50 day moving average is $5.46 and its two-hundred day moving average is $5.62. The firm has a market capitalization of $1.80 billion, a P/E ratio of -33.75 and a beta of 0.81. The company has a current ratio of 33.17, a quick ratio of 33.17 and a debt-to-equity ratio of 4.14. NovaGold Resources Inc. has a 52 week low of $4.06 and a 52 week high of $8.36.

NovaGold Resources Company Profile

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NovaGold Resources, Inc is a mineral exploration company, which engages in the development of the Donlin Gold project in Alaska. The company was founded by Gregory Shawn Johnson, John W. Chisholm, Macisaac G. Angus, Rick van Nieuwenhuyse, and Gerald James McConnell on December 5, 1984 and is headquartered in Salt Lake City, UT.