Russell Investments Group Ltd. Has $6.40 Million Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Russell Investments Group Ltd. reduced its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,921,965 shares of the mining company’s stock after selling 44,097 shares during the quarter. Russell Investments Group Ltd. owned about 0.57% of NovaGold Resources worth $6,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lingotto Investment Management LLP boosted its position in NovaGold Resources by 3.5% during the fourth quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock valued at $69,604,000 after acquiring an additional 702,636 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of NovaGold Resources during the 4th quarter valued at about $1,952,000. JPMorgan Chase & Co. grew its stake in NovaGold Resources by 105.2% during the fourth quarter. JPMorgan Chase & Co. now owns 809,937 shares of the mining company’s stock worth $2,697,000 after purchasing an additional 415,188 shares during the period. Amundi increased its holdings in NovaGold Resources by 11.6% in the fourth quarter. Amundi now owns 2,414,702 shares of the mining company’s stock worth $8,138,000 after purchasing an additional 251,583 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in NovaGold Resources by 37.2% in the third quarter. Jane Street Group LLC now owns 807,387 shares of the mining company’s stock valued at $3,310,000 after buying an additional 219,077 shares during the period. 57.56% of the stock is owned by institutional investors and hedge funds.

NovaGold Resources Price Performance

NG stock opened at $2.81 on Monday. NovaGold Resources Inc. has a 1 year low of $2.26 and a 1 year high of $4.88. The stock has a market capitalization of $940.37 million, a PE ratio of -21.62 and a beta of 1.05. The company’s 50-day moving average is $3.06 and its 200-day moving average is $3.40.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded shares of NovaGold Resources to a “hold” rating in a research note on Friday, March 21st.

About NovaGold Resources

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.