Northern Trust Corp Has $5.20 Million Stock Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Northern Trust Corp raised its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,562,611 shares of the mining company's stock after purchasing an additional 101,860 shares during the period. Northern Trust Corp owned 0.47% of NovaGold Resources worth $5,203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kopernik Global Investors LLC boosted its stake in 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 purchasing an additional 3,187,981 shares during the period. Lingotto Investment Management LLP increased its position in NovaGold Resources by 3.5% during the fourth quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company's stock worth $69,604,000 after acquiring an additional 702,636 shares during the period. Raymond James Financial Inc. acquired a new position in NovaGold Resources during the 4th quarter valued at $1,952,000. JPMorgan Chase & Co. boosted its holdings in NovaGold Resources by 105.2% in the 4th quarter. JPMorgan Chase & Co. now owns 809,937 shares of the mining company's stock valued at $2,697,000 after purchasing an additional 415,188 shares during the period. Finally, Amundi grew its position 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 during the last quarter. Institutional investors and hedge funds own 57.56% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial upgraded shares of NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

NovaGold Resources Trading Down 0.6%

NovaGold Resources stock traded down $0.02 during mid-day trading on Monday, hitting $3.58. The stock had a trading volume of 4,005,214 shares, compared to its average volume of 2,208,929. The stock has a market capitalization of $1.20 billion, a PE ratio of -27.54 and a beta of 1.05. NovaGold Resources Inc. has a 12 month low of $2.26 and a 12 month high of $5.06. The stock has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $3.45.

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.