NovaGold Resources Inc. (NYSEAMERICAN:NG) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 25.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,789 shares of the mining company’s stock after purchasing an additional 29,694 shares during the quarter. Wells Fargo & Company MN’s holdings in NovaGold Resources were worth $492,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of NovaGold Resources during the fourth quarter worth approximately $59,000. Cibc World Markets Corp purchased a new stake in shares of NovaGold Resources in the 4th quarter valued at approximately $76,000. Wealthfront Advisers LLC acquired a new stake in shares of NovaGold Resources in the 4th quarter valued at $139,000. Keating Investment Counselors Inc. grew its stake in shares of NovaGold Resources by 281.3% during the fourth quarter. Keating Investment Counselors Inc. now owns 61,000 shares of the mining company’s stock worth $203,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in NovaGold Resources in the third quarter valued at $308,000. Hedge funds and other institutional investors own 57.56% of the company’s stock.

NovaGold Resources Stock Down 1.7 %

Shares of NYSEAMERICAN:NG opened at $4.11 on Friday. NovaGold Resources Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $5.06. The firm’s 50-day simple moving average is $3.25 and its 200-day simple moving average is $3.44. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -31.62 and a beta of 1.05.

Analyst Ratings Changes

Separately, National Bank Financial raised shares of NovaGold Resources to a “hold” rating in a research report 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.