Novagold Resources Inc. (NYSEAMERICAN:NG) Holdings Lifted by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Novagold Resources Inc. by 137.8%, acquiring an additional 85,236 shares during the first quarter, bringing its total holdings to 147,084 shares worth $429,000.
• Several other institutional investors have also significantly increased their positions in Novagold, with Sterling Capital Management boosting its stake by 814.9% last quarter.
• The stock price of Novagold Resources is currently at $5.66, which reflects a 0.9% decrease, with a 52-week high of $6.16 and a low of $2.26.

XTX Topco Ltd grew its stake in Novagold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 137.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,084 shares of the mining company's stock after buying an additional 85,236 shares during the quarter. XTX Topco Ltd's holdings in Novagold Resources were worth $429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in Novagold Resources by 814.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,813 shares of the mining company's stock worth $26,000 after acquiring an additional 6,959 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Novagold Resources in the fourth quarter valued at about $35,000. Dauntless Investment Group LLC acquired a new stake in Novagold Resources during the first quarter worth about $39,000. Wolverine Trading LLC grew its stake in Novagold Resources by 4,789.1% during the fourth quarter. Wolverine Trading LLC now owns 16,318 shares of the mining company's stock worth $53,000 after buying an additional 16,666 shares in the last quarter. Finally, Principal Financial Group Inc. grew 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 valued at $48,000 after purchasing an additional 2,848 shares during the last quarter. Institutional investors and hedge funds own 57.56% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NG shares. Royal Bank Of Canada upgraded shares of Novagold Resources from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $5.00 to $7.00 in a research report on Wednesday, June 4th. Citigroup assumed coverage on Novagold Resources in a research note on Wednesday, July 16th. They issued a "buy" rating and a $7.00 price objective on the stock.

Insider Activity

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. 2.39% of the stock is owned by insiders.

Novagold Resources Price Performance

NG traded up $0.12 on Monday, reaching $5.78. The company had a trading volume of 3,138,911 shares, compared to its average volume of 3,665,360. Novagold Resources Inc. has a 52-week low of $2.26 and a 52-week high of $6.16. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -24.08 and a beta of 0.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 76.72 and a current ratio of 76.72. The business has a 50 day simple moving average of $4.76 and a 200 day simple moving average of $3.78.

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.