XTX Topco Ltd Has $429,000 Holdings in Novagold Resources Inc. (NYSEAMERICAN:NG)

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 increased its position 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 and Exchange Commission. The firm owned 147,084 shares of the mining company's stock after purchasing an additional 85,236 shares during the quarter. XTX Topco Ltd's holdings in Novagold Resources were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of 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 purchasing an additional 6,959 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Novagold Resources during the fourth quarter worth $35,000. Dauntless Investment Group LLC acquired a new stake in shares of Novagold Resources during the first quarter worth $39,000. Principal Financial Group Inc. raised its holdings in shares of Novagold Resources by 21.0% during the first quarter. Principal Financial Group Inc. now owns 16,415 shares of the mining company's stock worth $48,000 after purchasing an additional 2,848 shares during the period. Finally, Wolverine Trading LLC raised its holdings in shares of 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 purchasing an additional 16,666 shares during the period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Hume D. Kyle bought 10,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $4.10 per share, with a total value of $41,000.00. Following the completion of the acquisition, the director owned 22,348 shares of the company's stock, valued at $91,626.80. The trade was a 80.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.39% of the company's stock.

Novagold Resources Stock Performance

NG traded up $0.05 during trading hours on Wednesday, reaching $5.94. The company's stock had a trading volume of 1,160,502 shares, compared to its average volume of 3,641,443. Novagold Resources Inc. has a 52 week low of $2.26 and a 52 week high of $6.16. The company's 50-day moving average is $4.84 and its 200-day moving average is $3.82. 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 firm has a market cap of $2.41 billion, a PE ratio of -24.77 and a beta of 0.70.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NG. Citigroup began coverage on shares of Novagold Resources in a research report on Wednesday, July 16th. They set a "buy" rating and a $7.00 price objective for the company. 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 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.