Wells Fargo & Company MN trimmed its holdings in NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) by 20.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570,846 shares of the mining company’s stock after selling 410,040 shares during the quarter. Wells Fargo & Company MN owned about 0.49% of NovaGold Resources worth $7,164,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. OppenheimerFunds Inc. lifted its position in NovaGold Resources by 10.0% in the first quarter. OppenheimerFunds Inc. now owns 110,000 shares of the mining company’s stock worth $536,000 after purchasing an additional 10,000 shares during the period. Morgan Stanley lifted its position in NovaGold Resources by 52.1% in the first quarter. Morgan Stanley now owns 1,800,749 shares of the mining company’s stock worth $8,770,000 after purchasing an additional 617,162 shares during the period. Clearbridge Investments LLC lifted its position in NovaGold Resources by 0.9% in the first quarter. Clearbridge Investments LLC now owns 2,458,184 shares of the mining company’s stock worth $11,971,000 after purchasing an additional 20,780 shares during the period. UBS Asset Management Americas Inc. lifted its position in NovaGold Resources by 26.1% in the first quarter. UBS Asset Management Americas Inc. now owns 87,390 shares of the mining company’s stock worth $423,000 after purchasing an additional 18,100 shares during the period. Finally, Credit Suisse AG lifted its position in NovaGold Resources by 31.2% in the first quarter. Credit Suisse AG now owns 301,701 shares of the mining company’s stock worth $1,469,000 after purchasing an additional 71,754 shares during the period.

COPYRIGHT VIOLATION WARNING: “NovaGold Resources Inc. (NG) Position Cut by Wells Fargo & Company MN” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/09/novagold-resources-inc-ng-position-cut-by-wells-fargo-company-mn.html.

A number of equities research analysts have weighed in on the company. BidaskClub upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded NovaGold Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.

Shares of NovaGold Resources Inc. (NYSEMKT:NG) opened at 4.21 on Monday. NovaGold Resources Inc. has a 12-month low of $3.78 and a 12-month high of $6.21. The stock’s market cap is $1.35 billion. The stock has a 50 day moving average price of $4.24 and a 200-day moving average price of $4.36.

In other news, VP David Deisley sold 43,801 shares of NovaGold Resources stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $4.28, for a total transaction of $187,468.28. Following the transaction, the vice president now directly owns 913,521 shares of the company’s stock, valued at $3,909,869.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gillyeard J. Leathley sold 7,000 shares of NovaGold Resources stock in a transaction on 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 have sold 109,154 shares of company stock worth $494,124.

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.

Want to see what other hedge funds are holding NG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG).

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

Receive News & Stock Ratings for NovaGold Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources Inc. and related stocks with our FREE daily email newsletter.