Raymond James Financial Inc. Acquires Shares of 586,042 NovaGold Resources Inc. (NYSEAMERICAN:NG)

Raymond James Financial Inc. bought a new position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 586,042 shares of the mining company’s stock, valued at approximately $1,952,000. Raymond James Financial Inc. owned about 0.18% of NovaGold Resources as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lingotto Investment Management LLP raised its stake in shares of NovaGold Resources by 3.5% in the fourth quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock valued at $69,604,000 after acquiring an additional 702,636 shares during the period. Vanguard Group Inc. lifted its stake in NovaGold Resources by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 10,754,870 shares of the mining company’s stock worth $35,963,000 after purchasing an additional 169,209 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NovaGold Resources by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,067,144 shares of the mining company’s stock valued at $10,220,000 after buying an additional 20,218 shares during the period. Amundi grew its stake in shares of NovaGold Resources by 11.6% during the fourth quarter. Amundi now owns 2,414,702 shares of the mining company’s stock valued at $8,138,000 after buying an additional 251,583 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of NovaGold Resources by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,313,942 shares of the mining company’s stock worth $7,705,000 after buying an additional 39,167 shares during the period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

NovaGold Resources Price Performance

NovaGold Resources stock opened at $4.18 on Friday. NovaGold Resources Inc. has a 1-year low of $2.26 and a 1-year high of $5.06. The business has a fifty day moving average price of $3.23 and a 200-day moving average price of $3.43. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -32.15 and a beta of 1.05.

Analyst Ratings Changes

Separately, National Bank Financial upgraded shares of NovaGold Resources to a “hold” rating in a research note on Friday, March 21st.

About NovaGold Resources

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.