NovaGold Resources Inc. (NYSEAMERICAN:NG) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP increased its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 74.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 317,029 shares of the mining company's stock after purchasing an additional 135,705 shares during the period. Two Sigma Investments LP owned approximately 0.09% of NovaGold Resources worth $1,056,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kopernik Global Investors LLC lifted its holdings 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 worth $56,633,000 after buying an additional 3,187,981 shares in the last quarter. Lingotto Investment Management LLP increased its position in shares of 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 stake in shares of NovaGold Resources in the fourth quarter valued at $1,952,000. JPMorgan Chase & Co. boosted its holdings in NovaGold Resources by 105.2% in the fourth 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 boosted its holdings in NovaGold Resources by 11.6% in the fourth quarter. Amundi now owns 2,414,702 shares of the mining company's stock valued at $8,138,000 after purchasing an additional 251,583 shares during the period. Institutional investors and hedge funds own 57.56% of the company's stock.

NovaGold Resources Price Performance

Shares of NG stock traded up $0.17 during mid-day trading on Monday, hitting $4.38. The stock had a trading volume of 4,425,170 shares, compared to its average volume of 2,381,966. The firm has a market cap of $1.47 billion, a PE ratio of -33.69 and a beta of 1.05. The company's 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.46. NovaGold Resources Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $5.06.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NG. Royal Bank of Canada upgraded shares of NovaGold Resources from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $5.00 to $7.00 in a report on Wednesday, June 4th. National Bank Financial upgraded NovaGold Resources to a "hold" rating in a research note on Friday, March 21st.

NovaGold Resources 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.