Sprott Inc. Sells 306,456 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Sprott Inc. cut its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,511,197 shares of the mining company’s stock after selling 306,456 shares during the period. Sprott Inc. owned about 0.45% of NovaGold Resources worth $5,032,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NG. Bank of Montreal Can lifted its stake in NovaGold Resources by 26.5% during the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock worth $5,377,000 after purchasing an additional 267,713 shares during the period. Jane Street Group LLC lifted its position in shares of NovaGold Resources by 37.2% during the 3rd quarter. Jane Street Group LLC now owns 807,387 shares of the mining company’s stock worth $3,310,000 after buying an additional 219,077 shares during the period. State Street Corp lifted its position in shares of NovaGold Resources by 5.0% during the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock worth $17,717,000 after buying an additional 206,610 shares during the period. Wellington Management Group LLP boosted its stake in NovaGold Resources by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,146,787 shares of the mining company’s stock valued at $4,702,000 after buying an additional 195,117 shares in the last quarter. Finally, Barclays PLC grew its position in NovaGold Resources by 19.9% in the third quarter. Barclays PLC now owns 917,835 shares of the mining company’s stock valued at $3,762,000 after acquiring an additional 152,164 shares during the period. 57.56% of the stock is currently owned by institutional investors and hedge funds.

NovaGold Resources Stock Down 0.7 %

Shares of NG stock opened at $2.97 on Wednesday. The stock has a market cap of $993.91 million, a P/E ratio of -22.85 and a beta of 1.05. NovaGold Resources Inc. has a 12-month low of $2.31 and a 12-month high of $4.88.

NovaGold Resources Company Profile

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.