Lingotto Investment Management LLP Has $67.22 Million Stock Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Lingotto Investment Management LLP lifted its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,428,261 shares of the mining company’s stock after buying an additional 1,790,528 shares during the quarter. NovaGold Resources comprises approximately 2.3% of Lingotto Investment Management LLP’s holdings, making the stock its 12th largest position. Lingotto Investment Management LLP owned 5.81% of NovaGold Resources worth $67,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Paulson & CO. Inc. raised its stake in NovaGold Resources by 5.9% during the 4th quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after purchasing an additional 1,315,183 shares during the last quarter. Kopernik Global Investors LLC raised its stake in NovaGold Resources by 6.9% during the 4th quarter. Kopernik Global Investors LLC now owns 10,926,195 shares of the mining company’s stock valued at $40,864,000 after purchasing an additional 705,343 shares during the last quarter. American Century Companies Inc. bought a new stake in NovaGold Resources in the 2nd quarter valued at $2,029,000. Russell Investments Group Ltd. increased its holdings in NovaGold Resources by 37.0% in the 1st 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 during the period. Finally, Vanguard Group Inc. increased its holdings in NovaGold Resources by 3.7% in the 1st 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 during the period. 57.56% of the stock is currently owned by institutional investors and hedge funds.

NovaGold Resources Stock Down 0.7 %

NG opened at $4.27 on Wednesday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -32.69 and a beta of 1.05. NovaGold Resources Inc. has a 1-year low of $2.22 and a 1-year high of $4.88.

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

Analyst Upgrades and Downgrades

NG has been the topic of several analyst reports. National Bank Financial lowered shares of NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a report on Sunday, July 28th.

About NovaGold Resources

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.