XTX Topco Ltd increased its holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG – Free Report) (TSE:NG) by 47.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,848 shares of the mining company’s stock after purchasing an additional 19,844 shares during the quarter. XTX Topco Ltd’s holdings in NovaGold Resources were worth $206,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NG. Barclays PLC increased its position in shares of NovaGold Resources by 4.9% in the fourth quarter. Barclays PLC now owns 962,552 shares of the mining company’s stock worth $3,206,000 after acquiring an additional 44,717 shares in the last quarter. Kopernik Global Investors LLC increased its position in shares of NovaGold Resources by 23.1% in the fourth quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company’s stock worth $56,633,000 after acquiring an additional 3,187,981 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of NovaGold Resources by 814.9% in 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. Raymond James Financial Inc. purchased a new position in shares of NovaGold Resources in the fourth quarter worth approximately $1,952,000. Finally, Invesco Ltd. increased its position in shares of NovaGold Resources by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,313,942 shares of the mining company’s stock worth $7,705,000 after acquiring an additional 39,167 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, National Bank Financial raised shares of NovaGold Resources to a “hold” rating in a research report on Friday, March 21st.
NovaGold Resources Price Performance
NovaGold Resources stock opened at $4.44 on Monday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -34.15 and a beta of 1.05. NovaGold Resources Inc. has a one year low of $2.26 and a one year high of $5.06. The company’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $3.41.
NovaGold Resources Profile
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.
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