Mirae Asset Global Investments Co. Ltd. Cuts Stake in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Mirae Asset Global Investments Co. Ltd. cut its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,343 shares of the mining company’s stock after selling 3,813 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of NovaGold Resources worth $1,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in NovaGold Resources by 10.8% in the 3rd quarter. Van ECK Associates Corp now owns 9,209,665 shares of the mining company’s stock worth $35,365,000 after buying an additional 898,800 shares during the last quarter. Sun Valley Gold LLC raised its holdings in shares of NovaGold Resources by 62.4% during the third quarter. Sun Valley Gold LLC now owns 2,297,822 shares of the mining company’s stock valued at $8,824,000 after purchasing an additional 883,260 shares during the last quarter. FMR LLC lifted its position in NovaGold Resources by 0.9% during the third quarter. FMR LLC now owns 24,320,736 shares of the mining company’s stock valued at $93,111,000 after purchasing an additional 226,211 shares during the period. Vanguard Group Inc. boosted its holdings in NovaGold Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 9,823,289 shares of the mining company’s stock worth $37,721,000 after purchasing an additional 178,772 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in NovaGold Resources in the 3rd quarter worth approximately $495,000. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Stock Up 4.3 %

NYSEAMERICAN NG opened at $2.93 on Wednesday. The company has a debt-to-equity ratio of 3,250.59, a current ratio of 65.41 and a quick ratio of 65.41. NovaGold Resources Inc. has a twelve month low of $2.22 and a twelve month high of $5.75. The stock has a market capitalization of $979.70 million, a PE ratio of -22.54 and a beta of 1.06.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Wednesday, January 24th. The mining company reported ($0.03) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, National Bank Financial reissued an “outperform overweight” rating on shares of NovaGold Resources in a research report on Wednesday, January 3rd.

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.