Amitell Capital Pte Ltd Decreases Stock Position in Novagold Resources Inc. $NG

Amitell Capital Pte Ltd decreased its position in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 27.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 416,178 shares of the mining company’s stock after selling 159,522 shares during the period. Novagold Resources accounts for about 2.2% of Amitell Capital Pte Ltd’s investment portfolio, making the stock its 16th biggest position. Amitell Capital Pte Ltd’s holdings in Novagold Resources were worth $3,662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in shares of Novagold Resources in the 3rd quarter valued at approximately $40,000. Shepherd Financial Partners LLC acquired a new position in Novagold Resources in the 2nd quarter worth about $41,000. Quadrature Capital Ltd purchased a new position in shares of Novagold Resources during the 2nd quarter valued at approximately $44,000. Cubist Systematic Strategies LLC purchased a new position in shares of Novagold Resources in the first quarter valued at approximately $44,000. Finally, CWM LLC boosted its stake in Novagold Resources by 20.3% during the 2nd quarter. CWM LLC now owns 12,688 shares of the mining company’s stock worth $52,000 after purchasing an additional 2,137 shares during the last quarter. Institutional investors own 57.56% of the company’s stock.

Insider Buying and Selling at Novagold Resources

In related news, Director Dawn Patricia Whittaker bought 4,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $9.36 per share, for a total transaction of $37,440.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $37,440. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.88% of the company’s stock.

Analyst Ratings Changes

NG has been the subject of a number of recent analyst reports. BMO Capital Markets began coverage on shares of Novagold Resources in a report on Tuesday, November 4th. They set an “outperform” rating for the company. National Bank Financial upgraded shares of Novagold Resources from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 29th. B. Riley Financial boosted their price target on shares of Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Scotiabank started coverage on Novagold Resources in a research note on Friday, February 6th. They issued a “sector outperform” rating on the stock. Finally, Zacks Research cut shares of Novagold Resources from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novagold Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

Novagold Resources Stock Performance

Novagold Resources stock opened at $11.85 on Thursday. The firm has a market capitalization of $5.20 billion, a PE ratio of -47.40 and a beta of 0.82. Novagold Resources Inc. has a one year low of $2.26 and a one year high of $12.11. The stock’s 50 day moving average price is $10.14 and its 200 day moving average price is $8.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 23.79 and a current ratio of 23.79.

Novagold Resources Company Profile

Novagold Resources Inc is a mineral exploration and development company headquartered in Vancouver, British Columbia. The firm is focused on advancing large-scale precious metals projects through disciplined project management, environmental stewardship and community engagement. Novagold maintains a lean corporate structure while leveraging partnerships and industry expertise to advance its projects toward production.

The company’s flagship asset is the Donlin Gold project in Alaska, a 50/50 joint venture with Barrick Gold Corporation.