Separately, National Bank Financial lowered their price objective on NovaGold Resources from C$10.75 to C$9.50 in a research report on Friday, July 21st.
NovaGold Resources Price Performance
NovaGold Resources (NYSEAMERICAN:NG – Get Free Report) (TSE:NG) last posted its quarterly earnings results on Tuesday, June 27th. The mining company reported ($0.04) earnings per share for the quarter. On average, equities research analysts expect that NovaGold Resources will post -0.11 earnings per share for the current fiscal year.
Institutional Investors Weigh In On NovaGold Resources
Several large investors have recently modified their holdings of the business. Kopernik Global Investors LLC grew its holdings in shares of NovaGold Resources by 34.6% during the second quarter. Kopernik Global Investors LLC now owns 11,898,080 shares of the mining company’s stock worth $47,473,000 after buying an additional 3,057,519 shares in the last quarter. Norges Bank bought a new position in shares of NovaGold Resources during the fourth quarter worth about $12,493,000. Sun Valley Gold LLC bought a new position in shares of NovaGold Resources during the second quarter worth about $5,644,000. Bank of Montreal Can bought a new position in shares of NovaGold Resources during the second quarter worth about $5,356,000. Finally, Alps Advisors Inc. boosted its position in NovaGold Resources by 495.0% during the fourth quarter. Alps Advisors Inc. now owns 1,164,387 shares of the mining company’s stock valued at $6,963,000 after purchasing an additional 968,700 shares during the last quarter. 53.84% of the stock is currently owned by institutional investors.
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.
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