SG Americas Securities LLC Has $574,000 Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

SG Americas Securities LLC increased its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 59.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,952 shares of the mining company’s stock after buying an additional 61,982 shares during the quarter. SG Americas Securities LLC’s holdings in NovaGold Resources were worth $574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of NovaGold Resources in the first quarter valued at $28,000. Sheaff Brock Investment Advisors LLC bought a new position in NovaGold Resources in the 1st quarter valued at about $32,000. Dynamic Technology Lab Private Ltd acquired a new position in NovaGold Resources during the 4th quarter valued at about $105,000. Principal Financial Group Inc. increased its holdings in NovaGold Resources by 15.7% during the 1st quarter. Principal Financial Group Inc. now owns 32,529 shares of the mining company’s stock worth $98,000 after purchasing an additional 4,406 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in NovaGold Resources during the 1st quarter worth approximately $108,000. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Price Performance

Shares of NYSEAMERICAN NG opened at $4.71 on Tuesday. NovaGold Resources Inc. has a 1-year low of $2.22 and a 1-year high of $4.88. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -36.19 and a beta of 1.01.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.

Wall Street Analysts Forecast Growth

NG has been the subject of several recent analyst reports. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th. National Bank Financial downgraded shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th.

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.