Toronto Dominion Bank lowered its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 62.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,573 shares of the mining company’s stock after selling 230,218 shares during the quarter. Toronto Dominion Bank’s holdings in NovaGold Resources were worth $814,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NG. Exor Investments UK LLP increased its position in NovaGold Resources by 11.6% during the second quarter. Exor Investments UK LLP now owns 6,573,905 shares of the mining company’s stock worth $38,852,000 after buying an additional 684,000 shares during the last quarter. Van ECK Associates Corp increased its position in NovaGold Resources by 4.8% during the second quarter. Van ECK Associates Corp now owns 14,135,817 shares of the mining company’s stock worth $83,543,000 after buying an additional 645,308 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in NovaGold Resources during the second quarter worth approximately $3,546,000. Charles Schwab Investment Management Inc. acquired a new position in NovaGold Resources during the second quarter worth approximately $2,847,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in NovaGold Resources during the first quarter worth approximately $2,208,000.
A number of equities analysts have weighed in on the company. B. Riley set a $9.00 price target on NovaGold Resources and gave the stock a “buy” rating in a research report on Friday, August 23rd. Zacks Investment Research raised NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th.
Shares of NG stock traded up $0.08 during trading on Thursday, hitting $6.25. The company had a trading volume of 140,168 shares, compared to its average volume of 2,064,598. NovaGold Resources Inc. has a one year low of $3.42 and a one year high of $7.95.
NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its earnings results on Wednesday, June 26th. The mining company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02).
NovaGold Resources Company Profile
NovaGold Resources Inc primarily explores for and develops gold mineral properties in Canada and the United States. Its principal asset is the Donlin Gold property covering an area of 71,420 acres 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.
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