Novagold Resources Inc. $NG Stock Position Lowered by Ruffer LLP

Ruffer LLP lowered its position in shares of Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 66.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,480 shares of the mining company’s stock after selling 283,190 shares during the quarter. Ruffer LLP’s holdings in Novagold Resources were worth $1,236,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NG. Lingotto Investment Management LLP raised its holdings in shares of Novagold Resources by 60.7% in the 2nd quarter. Lingotto Investment Management LLP now owns 34,902,954 shares of the mining company’s stock worth $142,753,000 after purchasing an additional 13,180,065 shares in the last quarter. Kopernik Global Investors LLC lifted its position in Novagold Resources by 2.8% in the 2nd quarter. Kopernik Global Investors LLC now owns 19,115,209 shares of the mining company’s stock worth $78,181,000 after buying an additional 523,479 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Novagold Resources by 518.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,770,816 shares of the mining company’s stock valued at $19,513,000 after buying an additional 4,000,000 shares during the period. Amundi increased its stake in shares of Novagold Resources by 54.3% in the second quarter. Amundi now owns 4,306,221 shares of the mining company’s stock worth $19,292,000 after acquiring an additional 1,515,822 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Novagold Resources by 0.8% in the second quarter. Geode Capital Management LLC now owns 3,134,610 shares of the mining company’s stock worth $12,828,000 after acquiring an additional 23,720 shares during the last quarter. Institutional investors own 57.56% of the company’s stock.

Analyst Ratings Changes

NG has been the subject of a number of recent research reports. Citigroup raised their price target on Novagold Resources from $7.00 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. National Bank Financial raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Novagold Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. BMO Capital Markets initiated coverage on Novagold Resources in a research report on Tuesday, November 4th. They set an “outperform” rating for the company. Finally, B. Riley raised their target price on shares of Novagold Resources from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Novagold Resources Price Performance

Shares of NYSEAMERICAN:NG opened at $11.30 on Thursday. The firm has a market capitalization of $4.60 billion, a PE ratio of -45.20 and a beta of 0.83. The company has a current ratio of 23.79, a quick ratio of 23.79 and a debt-to-equity ratio of 1.02. Novagold Resources Inc. has a 1-year low of $2.26 and a 1-year high of $12.09. The business’s 50 day moving average is $9.85 and its 200-day moving average is $8.24.

Novagold Resources 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.