Auxano Advisors LLC Acquires New Shares in Novagold Resources Inc. $NG

Auxano Advisors LLC acquired a new stake in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 90,000 shares of the mining company’s stock, valued at approximately $839,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in shares of Novagold Resources by 29.2% in the third quarter. Van ECK Associates Corp now owns 8,159,352 shares of the mining company’s stock worth $71,802,000 after acquiring an additional 1,842,582 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Novagold Resources by 23.9% in the third quarter. Vanguard Group Inc. now owns 14,587,516 shares of the mining company’s stock worth $128,840,000 after acquiring an additional 2,815,780 shares in the last quarter. Capital World Investors increased its holdings in shares of Novagold Resources by 12.8% in the third quarter. Capital World Investors now owns 17,666,000 shares of the mining company’s stock worth $155,461,000 after acquiring an additional 2,000,000 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Novagold Resources by 32.7% in the third quarter. Alps Advisors Inc. now owns 1,645,340 shares of the mining company’s stock worth $14,479,000 after acquiring an additional 405,843 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Novagold Resources by 89.5% in the third quarter. Tudor Investment Corp ET AL now owns 1,080,198 shares of the mining company’s stock worth $9,506,000 after acquiring an additional 510,253 shares in the last quarter. Institutional investors own 57.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. B. Riley Financial increased their price objective on Novagold Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Morgan Stanley assumed coverage on Novagold Resources in a report on Thursday, April 9th. They set an “overweight” rating and a $13.80 price objective for the company. Scotiabank upgraded Novagold Resources to a “strong-buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada decreased their price objective on Novagold Resources from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Finally, Zacks Research upgraded Novagold Resources from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Novagold Resources presently has an average rating of “Buy” and an average price target of $13.26.

Novagold Resources Trading Down 1.5%

Shares of Novagold Resources stock opened at $8.01 on Tuesday. Novagold Resources Inc. has a 12-month low of $3.41 and a 12-month high of $14.40. The stock has a market cap of $3.51 billion, a P/E ratio of -30.81 and a beta of 0.76. The company has a quick ratio of 88.72, a current ratio of 88.72 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $9.24 and its 200-day moving average is $9.65.

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.