First Eagle Investment Management LLC increased its position in Novagold Resources Inc. (NYSEMKT:NG) (TSE:NG) by 19.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,566,285 shares of the company’s stock after buying an additional 415,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.80% of Novagold Resources worth $14,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Eqis Capital Management Inc. acquired a new position in shares of Novagold Resources during the second quarter valued at about $108,000. World Asset Management Inc boosted its position in shares of Novagold Resources by 7.9% in the second quarter. World Asset Management Inc now owns 19,857 shares of the company’s stock valued at $122,000 after buying an additional 1,449 shares during the last quarter. Creative Planning boosted its position in shares of Novagold Resources by 11.9% in the second quarter. Creative Planning now owns 20,017 shares of the company’s stock valued at $123,000 after buying an additional 2,133 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Novagold Resources during the second quarter valued at about $142,000. Finally, Advisor Group Inc. acquired a new position in shares of Novagold Resources during the second quarter valued at about $193,000.

Institutional Ownership by Quarter for Novagold Resources (NYSEMKT:NG)

Novagold Resources Inc. (NYSEMKT:NG) traded up 1.77% during midday trading on Tuesday, reaching $4.59. 712,656 shares of the company were exchanged. The company’s market capitalization is $1.47 billion. The company has a 50 day moving average of $4.63 and a 200-day moving average of $5.70. Novagold Resources Inc. has a 52-week low of $3.50 and a 52-week high of $7.29.

Novagold Resources (NYSEMKT:NG) last issued its quarterly earnings data on Wednesday, October 5th. The company reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02). On average, equities research analysts anticipate that Novagold Resources Inc. will post ($0.10) earnings per share for the current fiscal year.

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Several analysts have commented on the stock. Zacks Investment Research raised shares of Novagold Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. JPMorgan Chase & Co. raised shares of Novagold Resources from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 27th. Finally, RBC Capital Markets reissued a “sector perform” rating on shares of Novagold Resources in a research report on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.50.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segment is involved in the exploration and development of mineral properties. The Company is focused on advancing permitting of the Donlin Gold project in Alaska.

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