KCG Holdings Inc. reduced its position in shares of NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG) by 71.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,126 shares of the mining company’s stock after selling 53,369 shares during the period. KCG Holdings Inc.’s holdings in NovaGold Resources were worth $103,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. OppenheimerFunds Inc. increased its position in shares of NovaGold Resources by 10.0% in the first quarter. OppenheimerFunds Inc. now owns 110,000 shares of the mining company’s stock worth $536,000 after buying an additional 10,000 shares during the period. Morgan Stanley increased its position in NovaGold Resources by 52.1% in the first quarter. Morgan Stanley now owns 1,800,749 shares of the mining company’s stock valued at $8,770,000 after buying an additional 617,162 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in NovaGold Resources during the fourth quarter valued at $119,000. Legacy Capital Partners Inc. increased its position in NovaGold Resources by 19.9% in the first quarter. Legacy Capital Partners Inc. now owns 31,300 shares of the mining company’s stock valued at $153,000 after buying an additional 5,200 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in NovaGold Resources by 26.1% in the first quarter. UBS Asset Management Americas Inc. now owns 87,390 shares of the mining company’s stock valued at $423,000 after buying an additional 18,100 shares during the last quarter.
Shares of NovaGold Resources Inc. (NYSEMKT:NG) traded up 0.50% on Friday, reaching $3.99. The company’s stock had a trading volume of 509,275 shares. The company’s 50-day moving average is $4.47 and its 200 day moving average is $4.70. NovaGold Resources Inc. has a 12-month low of $3.78 and a 12-month high of $6.84. The company’s market capitalization is $1.28 billion.
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Several research analysts have recently weighed in on NG shares. BidaskClub upgraded NovaGold Resources from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research downgraded NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.
In related news, VP David A. Ottewell sold 43,224 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $4.65, for a total value of $200,991.60. Following the completion of the transaction, the vice president now owns 788,540 shares in the company, valued at approximately $3,666,711. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gillyeard J. Leathley sold 7,000 shares of NovaGold Resources stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $5.65, for a total value of $39,550.00. Following the transaction, the director now owns 84,940 shares of the company’s stock, valued at approximately $479,911. The disclosure for this sale can be found here.
About NovaGold Resources
Novagold Resources Inc is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company’s segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing permitting of the Donlin Gold project in Alaska.
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