LPL Financial LLC boosted its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 789.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,287 shares of the mining company’s stock after purchasing an additional 144,935 shares during the period. LPL Financial LLC’s holdings in NovaGold Resources were worth $642,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Spectrum Asset Management Inc. NB CA acquired a new stake in shares of NovaGold Resources during the fourth quarter valued at approximately $346,000. Boston Partners raised its holdings in shares of NovaGold Resources by 29.9% during the fourth quarter. Boston Partners now owns 90,000 shares of the mining company’s stock valued at $354,000 after acquiring an additional 20,700 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of NovaGold Resources during the third quarter valued at approximately $534,000. Brown Advisory Inc. raised its holdings in shares of NovaGold Resources by 57.7% during the fourth quarter. Brown Advisory Inc. now owns 153,095 shares of the mining company’s stock valued at $602,000 after acquiring an additional 56,025 shares during the period. Finally, Stansberry Asset Management LLC acquired a new stake in shares of NovaGold Resources during the fourth quarter valued at approximately $609,000.
Several research analysts have weighed in on NG shares. Zacks Investment Research lowered shares of NovaGold Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. B. Riley started coverage on shares of NovaGold Resources in a research note on Tuesday, December 19th. They issued a “buy” rating and a $7.00 price objective on the stock.
NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Wednesday, January 24th. The mining company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01.
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NovaGold Resources 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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