Point72 Europe London LLP Takes Position in NovaGold Resources Inc. (NG)
Point72 Europe London LLP bought a new stake in shares of NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,534,464 shares of the mining company’s stock, valued at approximately $11,557,000. NovaGold Resources makes up approximately 2.7% of Point72 Europe London LLP’s holdings, making the stock its 8th biggest position. Point72 Europe London LLP owned approximately 0.79% of NovaGold Resources at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC lifted its stake in NovaGold Resources by 4.9% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 27,800 shares of the mining company’s stock worth $127,000 after purchasing an additional 1,300 shares in the last quarter. Legal & General Group Plc lifted its stake in NovaGold Resources by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 37,607 shares of the mining company’s stock worth $170,000 after purchasing an additional 1,584 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in NovaGold Resources by 10.0% in the 1st quarter. OppenheimerFunds Inc. now owns 110,000 shares of the mining company’s stock worth $536,000 after purchasing an additional 10,000 shares in the last quarter. CIBC World Markets Inc. lifted its stake in NovaGold Resources by 10.5% in the 2nd quarter. CIBC World Markets Inc. now owns 144,158 shares of the mining company’s stock worth $657,000 after purchasing an additional 13,742 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in NovaGold Resources by 3.8% in the 2nd quarter. Bank of Montreal Can now owns 466,679 shares of the mining company’s stock worth $2,128,000 after purchasing an additional 17,194 shares in the last quarter.
In other news, VP David Deisley sold 15,129 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $4.37, for a total value of $66,113.73. Following the transaction, the vice president now directly owns 813,521 shares of the company’s stock, valued at $3,555,086.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gillyeard J. Leathley sold 7,000 shares of NovaGold Resources stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $5.65, for a total transaction of $39,550.00. Following the transaction, the director now directly owns 84,940 shares in the company, valued at $479,911. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,154 shares of company stock worth $494,124.
NovaGold Resources Inc. (NG) traded up 1.805% during mid-day trading on Friday, hitting $4.174. 1,359,476 shares of the stock were exchanged. The stock’s market cap is $1.34 billion. NovaGold Resources Inc. has a 52-week low of $3.78 and a 52-week high of $6.21. The stock’s 50 day moving average is $4.24 and its 200 day moving average is $4.36.
Several analysts have commented on the stock. BidaskClub upgraded shares of NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research cut shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.
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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 segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.
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