Novagold Resources Inc. $NG Stock Position Raised by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lifted its position in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 89.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,080,198 shares of the mining company’s stock after buying an additional 510,253 shares during the period. Tudor Investment Corp ET AL’s holdings in Novagold Resources were worth $9,506,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in shares of Novagold Resources by 5.4% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 25,324 shares of the mining company’s stock valued at $223,000 after acquiring an additional 1,287 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Novagold Resources by 1.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 73,524 shares of the mining company’s stock valued at $652,000 after acquiring an additional 1,299 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Novagold Resources by 35.4% in the 3rd quarter. Federated Hermes Inc. now owns 6,153 shares of the mining company’s stock valued at $54,000 after acquiring an additional 1,610 shares in the last quarter. Investment Management Corp of Ontario lifted its position in shares of Novagold Resources by 18.6% in the 2nd quarter. Investment Management Corp of Ontario now owns 18,489 shares of the mining company’s stock valued at $76,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Novagold Resources by 18.5% in the 3rd quarter. Allworth Financial LP now owns 18,747 shares of the mining company’s stock valued at $165,000 after acquiring an additional 2,932 shares in the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NG. Zacks Research upgraded shares of Novagold Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Canaccord Genuity Group assumed coverage on shares of Novagold Resources in a research report on Friday, March 27th. They issued a “speculative buy” rating and a $13.00 target price for the company. B. Riley Financial increased their target price on shares of Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Scotiabank assumed coverage on shares of Novagold Resources in a research report on Friday, February 6th. They issued a “sector outperform” rating for the company. Finally, Royal Bank Of Canada cut their target price on shares of Novagold Resources from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Novagold Resources Stock Up 0.1%

NG stock opened at $9.07 on Tuesday. Novagold Resources Inc. has a 12-month low of $2.26 and a 12-month high of $14.40. The company has a quick ratio of 23.79, a current ratio of 88.72 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -34.88 and a beta of 0.90. The company has a 50 day moving average of $10.27 and a two-hundred day moving average of $9.66.

Insider Buying and Selling at Novagold Resources

In other Novagold Resources news, Director Dawn Patricia Whittaker purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $9.36 per share, for a total transaction of $37,440.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at $37,440. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.88% of the company’s stock.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.