Tudor Investment Corp ET AL Has $9.51 Million Holdings in Novagold Resources Inc. $NG

Key Points

• Tudor Investment Corp ET AL increased its stake in Novagold by 89.5% in Q3 to 1,080,198 shares worth about $9.51 million (≈0.27% of the company).
• Other large institutions—Vanguard (~14.59M shares), VanEck (~8.16M) and Capital World (~17.67M)—also raised positions in Q3, leaving institutional ownership at about 57.56%.
• Analyst views are mixed but the consensus is a "Moderate Buy" with an average price target of $13.17; recent notable actions include RBC trimming its target to $14 (outperform), Zacks cutting to "strong sell", and B. Riley raising its target to $13 (buy).

Tudor Investment Corp ET AL grew its position in Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 89.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,080,198 shares of the mining company's stock after buying an additional 510,253 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.27% of Novagold Resources worth $9,506,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in Novagold Resources by 29.2% during the 3rd quarter. Van ECK Associates Corp now owns 8,159,352 shares of the mining company's stock worth $71,802,000 after purchasing an additional 1,842,582 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Novagold Resources by 23.9% in the third quarter. Vanguard Group Inc. now owns 14,587,516 shares of the mining company's stock valued at $128,840,000 after purchasing an additional 2,815,780 shares in the last quarter. Capital World Investors boosted its position in shares of Novagold Resources by 12.8% in the third quarter. Capital World Investors now owns 17,666,000 shares of the mining company's stock worth $155,461,000 after buying an additional 2,000,000 shares during the period. Alps Advisors Inc. boosted its position in shares of Novagold Resources by 32.7% in the third quarter. Alps Advisors Inc. now owns 1,645,340 shares of the mining company's stock worth $14,479,000 after buying an additional 405,843 shares during the period. Finally, CapWealth Advisors LLC purchased a new position in shares of Novagold Resources during the third quarter valued at $616,000. 57.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Novagold Resources from $18.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday. Zacks Research lowered Novagold Resources from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. Scotiabank assumed coverage on Novagold Resources in a report on Friday, February 6th. They issued a "sector outperform" rating on the stock. Finally, B. Riley Financial boosted their price objective on shares of Novagold Resources from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $13.17.

Insider Transactions at Novagold Resources

In other Novagold Resources news, Director Dawn Patricia Whittaker acquired 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $9.36 per share, for a total transaction of $37,440.00. Following the completion of the acquisition, the director owned 4,000 shares of the company's stock, valued at approximately $37,440. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.39% of the company's stock.

Novagold Resources Trading Down 1.9%

NYSEAMERICAN:NG opened at $7.75 on Monday. The company has a market capitalization of $3.40 billion, a P/E ratio of -31.00 and a beta of 0.74. The stock's 50 day moving average price is $10.64 and its 200 day moving average price is $9.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 23.79 and a current ratio of 23.79. Novagold Resources Inc. has a 52 week low of $2.26 and a 52 week high of $14.40.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company's flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.

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