Cedar Wealth Management LLC Has $1.17 Million Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cedar Wealth Management LLC increased its position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 129.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 339,283 shares of the mining company’s stock after buying an additional 191,402 shares during the period. Cedar Wealth Management LLC’s holdings in NovaGold Resources were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of NG. Paulson & CO. Inc. lifted its stake in NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after buying an additional 1,315,183 shares during the period. First Eagle Investment Management LLC lifted its position in shares of NovaGold Resources by 16.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 21,485,443 shares of the mining company’s stock valued at $74,340,000 after acquiring an additional 3,042,480 shares during the period. Lingotto Investment Management LLP lifted its position in shares of NovaGold Resources by 10.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock valued at $67,222,000 after acquiring an additional 1,790,528 shares during the period. Kopernik Global Investors LLC boosted its stake in NovaGold Resources by 6.9% during the fourth quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock worth $40,864,000 after acquiring an additional 705,343 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 purchasing an additional 367,401 shares during the period. Institutional investors own 57.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NG. National Bank Financial lowered shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. StockNews.com downgraded NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th.

NovaGold Resources Trading Up 1.4 %

Shares of NG opened at $4.23 on Friday. The firm has a market capitalization of $1.42 billion, a P/E ratio of -32.38 and a beta of 1.05. NovaGold Resources Inc. has a 12-month low of $2.22 and a 12-month high of $4.88.

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

NovaGold Resources 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.