NovaGold Resources (NYSEAMERICAN:NG) Downgraded by StockNews.com

StockNews.com downgraded shares of NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) from a hold rating to a sell rating in a report issued on Monday morning.

NovaGold Resources Stock Down 2.2 %

NYSEAMERICAN:NG opened at $4.55 on Monday. NovaGold Resources has a 52 week low of $2.22 and a 52 week high of $4.88. The stock has a market cap of $1.52 billion, a PE ratio of -35.00 and a beta of 1.02.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Wednesday, June 26th. The mining company reported ($0.04) EPS for the quarter.

Institutional Investors Weigh In On NovaGold Resources

Several large investors have recently made changes to their positions in the company. Paulson & CO. Inc. boosted its holdings in shares of NovaGold Resources by 5.9% in the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock worth $88,045,000 after acquiring an additional 1,315,183 shares in the last quarter. Kopernik Global Investors LLC grew its holdings in shares of NovaGold Resources by 6.9% during the fourth quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock worth $40,864,000 after purchasing an additional 705,343 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of NovaGold Resources by 37.0% in the first quarter. Russell Investments Group Ltd. now owns 2,119,689 shares of the mining company’s stock valued at $6,359,000 after buying an additional 572,273 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NovaGold Resources by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company’s stock valued at $31,134,000 after buying an additional 367,401 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of NovaGold Resources by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 9,472,929 shares of the mining company’s stock valued at $35,429,000 after buying an additional 263,264 shares during the last quarter. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Company Profile

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.