Amundi Acquires 1,515,822 Shares of Novagold Resources Inc. $NG

Amundi raised its holdings in shares of Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 54.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,306,221 shares of the mining company’s stock after acquiring an additional 1,515,822 shares during the period. Amundi’s holdings in Novagold Resources were worth $19,292,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Kopernik Global Investors LLC grew its stake in shares of Novagold Resources by 9.3% during the first quarter. Kopernik Global Investors LLC now owns 18,591,730 shares of the mining company’s stock worth $54,288,000 after purchasing an additional 1,584,886 shares during the period. Vanguard Group Inc. lifted its stake in Novagold Resources by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,826,126 shares of the mining company’s stock valued at $31,603,000 after buying an additional 71,256 shares during the period. Teacher Retirement System of Texas boosted its holdings in Novagold Resources by 518.9% during the second quarter. Teacher Retirement System of Texas now owns 4,770,816 shares of the mining company’s stock worth $19,513,000 after buying an additional 4,000,000 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Novagold Resources by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,134,610 shares of the mining company’s stock worth $12,828,000 after buying an additional 23,720 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Novagold Resources by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 2,009,516 shares of the mining company’s stock valued at $5,868,000 after acquiring an additional 87,551 shares during the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NG shares. B. Riley lifted their price objective on shares of Novagold Resources from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Citigroup lifted their price target on shares of Novagold Resources from $7.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. National Bank Financial raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 29th. BMO Capital Markets assumed coverage on Novagold Resources in a research note on Tuesday, November 4th. They set an “outperform” rating on the stock. Finally, Zacks Research cut Novagold Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.17.

Novagold Resources Stock Up 0.7%

Shares of NG stock opened at $9.53 on Thursday. The firm has a fifty day moving average of $9.12 and a 200-day moving average of $6.82. The company has a quick ratio of 26.91, a current ratio of 26.91 and a debt-to-equity ratio of 0.92. Novagold Resources Inc. has a 12-month low of $2.26 and a 12-month high of $10.90. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -38.12 and a beta of 0.81.

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.