Jupiter Asset Management Ltd. Boosts Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Jupiter Asset Management Ltd. raised its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 22.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,107,795 shares of the mining company’s stock after buying an additional 385,313 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.64% of NovaGold Resources worth $18,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. CIBC World Markets Inc. grew its holdings in NovaGold Resources by 10.2% during the 1st quarter. CIBC World Markets Inc. now owns 96,567 shares of the mining company’s stock valued at $846,000 after buying an additional 8,949 shares in the last quarter. Kopernik Global Investors LLC boosted its position in shares of NovaGold Resources by 64.9% during the 1st quarter. Kopernik Global Investors LLC now owns 4,157,115 shares of the mining company’s stock valued at $36,416,000 after acquiring an additional 1,636,064 shares during the last quarter. Cedar Wealth Management LLC boosted its position in shares of NovaGold Resources by 1,853.5% during the 1st quarter. Cedar Wealth Management LLC now owns 50,792 shares of the mining company’s stock valued at $441,000 after acquiring an additional 48,192 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of NovaGold Resources by 29.4% during the 1st quarter. Russell Investments Group Ltd. now owns 1,213,137 shares of the mining company’s stock valued at $10,624,000 after acquiring an additional 275,319 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its position in shares of NovaGold Resources by 100.5% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 67,360 shares of the mining company’s stock valued at $584,000 after acquiring an additional 33,771 shares during the last quarter. 49.92% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a research report on Tuesday.

NG opened at $9.57 on Thursday. The company has a quick ratio of 119.02, a current ratio of 119.02 and a debt-to-equity ratio of 1.06. NovaGold Resources Inc. has a 52-week low of $7.93 and a 52-week high of $12.10. The stock has a market capitalization of $3.17 billion, a PE ratio of -95.70 and a beta of 0.71. The company’s 50 day simple moving average is $10.10.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, March 31st. The mining company reported ($0.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). As a group, analysts forecast that NovaGold Resources Inc. will post -0.1 earnings per share for the current fiscal year.

In other NovaGold Resources news, Director Anthony P. Walsh sold 19,655 shares of the business’s stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $9.33, for a total value of $183,381.15. Following the sale, the director now directly owns 77,134 shares of the company’s stock, valued at $719,660.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.05% of the company’s stock.

NovaGold Resources Profile

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. It primarily owns 50% interest in the Donlin Gold project consisting of 493 mining claims 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.

Further Reading: The four types of profit margin

Want to see what other hedge funds are holding NG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG).

Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

Receive News & Ratings for NovaGold Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovaGold Resources and related companies with MarketBeat.com's FREE daily email newsletter.