Alps Advisors Inc. Increases Stock Position in Novagold Resources Inc. (NYSEAMERICAN:NG)

Alps Advisors Inc. lifted its holdings in shares of Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 458.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,143,199 shares of the mining company's stock after buying an additional 938,639 shares during the quarter. Alps Advisors Inc. owned about 0.34% of Novagold Resources worth $3,338,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NG. Kopernik Global Investors LLC lifted its stake in shares of Novagold Resources by 23.1% during the 4th quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company's stock valued at $56,633,000 after buying an additional 3,187,981 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Novagold Resources in the 4th quarter worth approximately $1,952,000. JPMorgan Chase & Co. lifted its stake in Novagold Resources by 105.2% in the 4th quarter. JPMorgan Chase & Co. now owns 809,937 shares of the mining company's stock worth $2,697,000 after purchasing an additional 415,188 shares in the last quarter. Amundi lifted its stake in Novagold Resources by 11.6% in the 4th quarter. Amundi now owns 2,414,702 shares of the mining company's stock worth $8,138,000 after purchasing an additional 251,583 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Novagold Resources by 1.6% in the 4th 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 in the last quarter. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Novagold Resources

In other Novagold Resources news, Director Hume D. Kyle acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $4.10 per share, with a total value of $41,000.00. Following the completion of the purchase, the director directly owned 22,348 shares of the company's stock, valued at approximately $91,626.80. The trade was a 80.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.88% of the company's stock.

Novagold Resources Price Performance

NG stock opened at $4.80 on Friday. The firm's 50-day moving average price is $4.05 and its two-hundred day moving average price is $3.53. Novagold Resources Inc. has a 12-month low of $2.26 and a 12-month high of $5.06. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -20.00 and a beta of 0.67. The company has a current ratio of 76.72, a quick ratio of 76.72 and a debt-to-equity ratio of 0.96.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NG. National Bank Financial upgraded shares of Novagold Resources to a "hold" rating in a research note on Friday, March 21st. Royal Bank Of Canada raised shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $5.00 to $7.00 in a report on Wednesday, June 4th.

Novagold Resources Company Profile

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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