The Manufacturers Life Insurance Company Has $1.19 Million Stock Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

The Manufacturers Life Insurance Company decreased its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,139 shares of the mining company’s stock after selling 3,167 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of NovaGold Resources worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NG. First Eagle Investment Management LLC increased its stake in NovaGold Resources by 16.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 21,485,443 shares of the mining company’s stock worth $74,340,000 after acquiring an additional 3,042,480 shares during the period. Lingotto Investment Management LLP boosted its position in NovaGold Resources by 10.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock worth $67,222,000 after buying an additional 1,790,528 shares during the period. American Century Companies Inc. bought a new stake in NovaGold Resources during the 2nd quarter worth approximately $2,029,000. Bank of Montreal Can increased its position in NovaGold Resources by 26.5% in the 3rd quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock valued at $5,377,000 after acquiring an additional 267,713 shares during the period. Finally, Cedar Wealth Management LLC raised its stake in shares of NovaGold Resources by 129.4% during the second quarter. Cedar Wealth Management LLC now owns 339,283 shares of the mining company’s stock valued at $1,174,000 after acquiring an additional 191,402 shares during the last quarter. 57.56% of the stock is owned by institutional investors.

NovaGold Resources Stock Up 9.3 %

Shares of NYSEAMERICAN:NG opened at $3.84 on Thursday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -29.50 and a beta of 1.07. NovaGold Resources Inc. has a 1 year low of $2.22 and a 1 year high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its earnings results on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).

Analyst Ratings Changes

Separately, Citigroup raised shares of NovaGold Resources to a “strong-buy” rating in a research report on Thursday, October 3rd.

NovaGold Resources 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.