Commonwealth Equity Services LLC Sells 23,396 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Commonwealth Equity Services LLC trimmed its holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 69.8% in the fourth quarter, Holdings Channel reports. The fund owned 10,115 shares of the mining company’s stock after selling 23,396 shares during the period. Commonwealth Equity Services LLC’s holdings in NovaGold Resources were worth $34,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NG. Lingotto Investment Management LLP raised its stake in shares of NovaGold Resources by 3.5% in the 4th quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock valued at $69,604,000 after purchasing an additional 702,636 shares during the period. Raymond James Financial Inc. bought a new position in shares of NovaGold Resources during the fourth quarter worth about $1,952,000. Amundi grew its holdings in shares of NovaGold Resources by 11.6% during the fourth quarter. Amundi now owns 2,414,702 shares of the mining company’s stock worth $8,138,000 after buying an additional 251,583 shares in the last quarter. Jane Street Group LLC raised its position in NovaGold Resources by 37.2% in the 3rd quarter. Jane Street Group LLC now owns 807,387 shares of the mining company’s stock valued at $3,310,000 after buying an additional 219,077 shares during the last quarter. Finally, State Street Corp lifted its stake in NovaGold Resources by 5.0% in the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock valued at $17,717,000 after acquiring an additional 206,610 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of NovaGold Resources to a “hold” rating in a research note on Friday, March 21st.

NovaGold Resources Trading Up 12.0 %

Shares of NG stock opened at $2.81 on Friday. The firm’s fifty day moving average price is $3.06 and its two-hundred day moving average price is $3.40. NovaGold Resources Inc. has a 1 year low of $2.26 and a 1 year high of $4.88. The firm has a market capitalization of $940.37 million, a P/E ratio of -21.62 and a beta of 1.05.

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.