Dynamic Technology Lab Private Ltd Acquires New Holdings in Novagold Resources Inc. $NG

Dynamic Technology Lab Private Ltd bought a new stake in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,546 shares of the mining company’s stock, valued at approximately $410,000.

Several other large investors also recently added to or reduced their stakes in NG. Ameritas Investment Partners Inc. raised its holdings in shares of Novagold Resources by 5.4% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 25,324 shares of the mining company’s stock valued at $223,000 after purchasing an additional 1,287 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Novagold Resources by 35.4% in the third quarter. Federated Hermes Inc. now owns 6,153 shares of the mining company’s stock worth $54,000 after purchasing an additional 1,610 shares in the last quarter. Investment Management Corp of Ontario increased its position in Novagold Resources by 18.6% during the second quarter. Investment Management Corp of Ontario now owns 18,489 shares of the mining company’s stock worth $76,000 after buying an additional 2,900 shares during the last quarter. Xponance Inc. increased its position in Novagold Resources by 20.5% during the third quarter. Xponance Inc. now owns 23,737 shares of the mining company’s stock worth $209,000 after buying an additional 4,038 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in Novagold Resources by 16.9% during the second quarter. Profund Advisors LLC now owns 29,918 shares of the mining company’s stock valued at $122,000 after buying an additional 4,334 shares in the last quarter. 57.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NG. Scotiabank began coverage on Novagold Resources in a research report on Friday, February 6th. They issued a “sector outperform” rating for the company. Zacks Research lowered Novagold Resources from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, B. Riley Financial raised their price objective on Novagold Resources from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

Novagold Resources Price Performance

NYSEAMERICAN NG opened at $11.70 on Thursday. Novagold Resources Inc. has a 1 year low of $2.26 and a 1 year high of $14.40. The company has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $9.38. The company has a current ratio of 23.79, a quick ratio of 23.79 and a debt-to-equity ratio of 1.02. The company has a market cap of $5.13 billion, a P/E ratio of -46.80 and a beta of 0.75.

Insider Activity at Novagold Resources

In other Novagold Resources news, Director Dawn Patricia Whittaker acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $9.36 per share, with a total value of $37,440.00. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $37,440. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.88% of the company’s stock.

About Novagold Resources

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.