Rhumbline Advisers Purchases 60,396 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Rhumbline Advisers boosted its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 18.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 394,138 shares of the mining company’s stock after buying an additional 60,396 shares during the period. Rhumbline Advisers’ holdings in NovaGold Resources were worth $1,364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Paulson & CO. Inc. raised its stake in shares of NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after acquiring an additional 1,315,183 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of NovaGold Resources by 37.0% in the first quarter. Russell Investments Group Ltd. now owns 2,119,689 shares of the mining company’s stock worth $6,359,000 after acquiring an additional 572,273 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NovaGold Resources by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company’s stock worth $31,134,000 after acquiring an additional 367,401 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of NovaGold Resources by 24.0% in the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company’s stock worth $3,105,000 after acquiring an additional 173,817 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of NovaGold Resources by 13.6% in the first quarter. BNP Paribas Financial Markets now owns 298,180 shares of the mining company’s stock worth $895,000 after acquiring an additional 35,743 shares during the last quarter. 57.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

NG has been the subject of a number of research analyst reports. StockNews.com downgraded shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th. National Bank Financial downgraded shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th.

NovaGold Resources Stock Up 0.2 %

NG opened at $4.24 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of -32.62 and a beta of 1.05. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its quarterly earnings results on Wednesday, June 26th. The mining company reported ($0.04) earnings per share for the quarter.

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.