Alps Advisors Inc. Grows Holdings in Novagold Resources Inc. (NYSEAMERICAN:NG)

Alps Advisors Inc. boosted its stake in Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 458.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,143,199 shares of the mining company's stock after acquiring an additional 938,639 shares during the period. Alps Advisors Inc. owned 0.34% of Novagold Resources worth $3,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NG. Sterling Capital Management LLC raised its position in Novagold Resources by 814.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock worth $26,000 after buying an additional 6,959 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Novagold Resources during the 4th quarter valued at approximately $35,000. Wolverine Trading LLC lifted its holdings in Novagold Resources by 4,789.1% in the 4th quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company's stock worth $53,000 after purchasing an additional 16,666 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Novagold Resources by 21.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,415 shares of the mining company's stock worth $48,000 after acquiring an additional 2,848 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Novagold Resources during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 57.56% of the company's stock.

Insiders Place Their Bets

In other Novagold Resources news, Director Hume D. Kyle bought 10,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $4.10 per share, with a total value of $41,000.00. Following the acquisition, the director directly owned 22,348 shares of the company's stock, valued at $91,626.80. The trade was a 80.98% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.39% of the stock is currently owned by insiders.

Novagold Resources Trading Up 0.8%

NG traded up $0.04 on Tuesday, hitting $4.95. The company had a trading volume of 1,975,887 shares, compared to its average volume of 2,572,112. The firm has a market cap of $2.01 billion, a P/E ratio of -20.62 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. The company's fifty day moving average price is $4.05 and its 200 day moving average price is $3.53. Novagold Resources Inc. has a 1 year low of $2.26 and a 1 year high of $5.06.

Wall Street Analyst Weigh In

Several equities analysts have commented on NG shares. National Bank Financial raised Novagold Resources to a "hold" rating in a research report 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 objective for the company from $5.00 to $7.00 in a research report on Wednesday, June 4th.

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.