Paulson & CO. Inc. Purchases 1,315,183 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Paulson & CO. Inc. grew its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NGFree Report) (TSE:NG) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,541,483 shares of the mining company’s stock after purchasing an additional 1,315,183 shares during the period. NovaGold Resources makes up about 7.9% of Paulson & CO. Inc.’s holdings, making the stock its 4th largest holding. Paulson & CO. Inc. owned about 7.04% of NovaGold Resources worth $88,045,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. HTLF Bank acquired a new position in NovaGold Resources during the fourth quarter worth $67,000. Oak Thistle LLC acquired a new stake in shares of NovaGold Resources in the fourth quarter valued at $75,000. Algert Global LLC acquired a new stake in shares of NovaGold Resources in the third quarter valued at $96,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NovaGold Resources in the fourth quarter valued at $105,000. Finally, Hsbc Holdings PLC raised its stake in shares of NovaGold Resources by 13.1% in the third quarter. Hsbc Holdings PLC now owns 52,845 shares of the mining company’s stock valued at $202,000 after acquiring an additional 6,128 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors and hedge funds.

NovaGold Resources Trading Down 2.4 %

Shares of NYSEAMERICAN NG traded down $0.09 during mid-day trading on Tuesday, hitting $3.62. The company had a trading volume of 1,278,199 shares, compared to its average volume of 2,097,689. The stock has a market cap of $1.21 billion, a P/E ratio of -27.77 and a beta of 1.17. NovaGold Resources Inc. has a 1-year low of $2.22 and a 1-year high of $5.24.

NovaGold Resources (NYSEAMERICAN:NGGet Free Report) (TSE:NG) last issued its quarterly earnings data on Wednesday, April 3rd. The mining company reported ($0.03) earnings per share (EPS) for the quarter.

About NovaGold Resources

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

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