39,063 Shares in Novagold Resources Inc. $NG Purchased by Nova R Wealth Inc.

Key Points

• Nova R Wealth Inc. acquired 39,063 shares of Novagold Resources Inc., valued at approximately $160,000, according to a recent SEC filing.
• Several institutional investors have increased their stakes in Novagold, with Ruffer LLP investing $1,733,000 and Public Employees Retirement System of Ohio raising its stake by 13.3%.
• The stock price of Novagold Resources opened at $8.30, reflecting a 12-month high of $8.33 and a growing consensus rating of "Buy" with a price target of $7.00 by analysts.

Nova R Wealth Inc. bought a new stake in shares of Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,063 shares of the mining company's stock, valued at approximately $160,000.

Several other large investors also recently made changes to their positions in the company. Ruffer LLP bought a new stake in shares of Novagold Resources during the second quarter valued at approximately $1,733,000. Public Employees Retirement System of Ohio raised its stake in Novagold Resources by 13.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,225 shares of the mining company's stock valued at $296,000 after acquiring an additional 8,467 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Novagold Resources by 13.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,766,867 shares of the mining company's stock worth $5,159,000 after acquiring an additional 210,631 shares during the period. Rhumbline Advisers grew its stake in shares of Novagold Resources by 2.6% in the first quarter. Rhumbline Advisers now owns 389,429 shares of the mining company's stock worth $1,137,000 after purchasing an additional 9,797 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Novagold Resources during the first quarter valued at $157,000. Institutional investors and hedge funds own 57.56% of the company's stock.

Novagold Resources Stock Up 4.5%

NG stock opened at $8.30 on Monday. Novagold Resources Inc. has a 12 month low of $2.26 and a 12 month high of $8.33. The firm has a market cap of $3.38 billion, a PE ratio of -34.58 and a beta of 0.66. The firm has a 50 day simple moving average of $6.37 and a 200 day simple moving average of $4.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 76.72 and a quick ratio of 76.72.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NG shares. Citigroup started coverage on shares of Novagold Resources in a report on Wednesday, July 16th. They issued a "buy" rating and a $7.00 price objective for the company. Royal Bank Of Canada raised shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $5.00 to $7.00 in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $7.00.

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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