Mirae Asset Global Investments Co. Ltd. Decreases Stake in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,343 shares of the mining company’s stock after selling 3,813 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NovaGold Resources were worth $1,052,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oak Thistle LLC acquired a new stake in NovaGold Resources during the 4th quarter valued at approximately $75,000. Raymond James & Associates raised its holdings in shares of NovaGold Resources by 27.9% during the fourth quarter. Raymond James & Associates now owns 363,587 shares of the mining company’s stock worth $1,360,000 after purchasing an additional 79,361 shares during the last quarter. SG Americas Securities LLC lifted its position in NovaGold Resources by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 115,430 shares of the mining company’s stock valued at $432,000 after purchasing an additional 25,523 shares during the period. Vanguard Group Inc. boosted its holdings in NovaGold Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 9,823,289 shares of the mining company’s stock valued at $37,721,000 after purchasing an additional 178,772 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in NovaGold Resources by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 526,993 shares of the mining company’s stock worth $2,027,000 after purchasing an additional 4,471 shares during the period. 57.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, National Bank Financial reaffirmed an “outperform overweight” rating on shares of NovaGold Resources in a report on Wednesday, January 3rd.

NovaGold Resources Trading Up 4.3 %

Shares of NovaGold Resources stock opened at $2.93 on Wednesday. The company has a debt-to-equity ratio of 3,250.59, a current ratio of 65.41 and a quick ratio of 65.41. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.75. The stock has a market capitalization of $979.70 million, a price-to-earnings ratio of -22.54 and a beta of 1.06.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Wednesday, January 24th. The mining company reported ($0.03) earnings per share for the quarter.

NovaGold Resources Company 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.