NovaGold Resources (NYSEAMERICAN:NG) Announces Quarterly Earnings Results

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) announced its earnings results on Wednesday. The mining company reported ($0.04) EPS for the quarter, reports.

NovaGold Resources Stock Performance

NG stock opened at $3.46 on Friday. NovaGold Resources has a 52-week low of $2.22 and a 52-week high of $4.66.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Paulson & CO. Inc. raised its holdings in shares of NovaGold Resources by 5.9% in the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after purchasing an additional 1,315,183 shares during the period. Hsbc Holdings PLC lifted its position in NovaGold Resources by 13.1% during the third quarter. Hsbc Holdings PLC now owns 52,845 shares of the mining company’s stock valued at $202,000 after buying an additional 6,128 shares in the last quarter. FMR LLC grew its stake in NovaGold Resources by 0.9% during the third quarter. FMR LLC now owns 24,320,736 shares of the mining company’s stock worth $93,111,000 after buying an additional 226,211 shares during the period. SG Americas Securities LLC increased its position in shares of NovaGold Resources by 28.4% in the fourth quarter. SG Americas Securities LLC now owns 115,430 shares of the mining company’s stock worth $432,000 after acquiring an additional 25,523 shares in the last quarter. Finally, Kopernik Global Investors LLC raised its stake in shares of NovaGold Resources by 6.9% in the 4th quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock valued at $40,864,000 after acquiring an additional 705,343 shares during the period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Thursday.

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.