AXQ Capital LP Takes Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

AXQ Capital LP purchased a new position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,587 shares of the mining company’s stock, valued at approximately $59,000.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in NovaGold Resources by 2.0% during the 4th quarter. American Century Companies Inc. now owns 629,390 shares of the mining company’s stock worth $2,105,000 after buying an additional 12,246 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of NovaGold Resources during the fourth quarter valued at $76,000. Wealthfront Advisers LLC bought a new position in NovaGold Resources in the fourth quarter valued at about $139,000. Amundi increased its position in NovaGold Resources by 11.6% in the fourth quarter. Amundi now owns 2,414,702 shares of the mining company’s stock worth $8,138,000 after purchasing an additional 251,583 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in NovaGold Resources during the 4th quarter worth about $1,952,000. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Trading Down 3.8 %

Shares of NG stock opened at $3.26 on Tuesday. The firm has a 50 day simple moving average of $3.22. NovaGold Resources Inc. has a 52-week low of $2.56 and a 52-week high of $4.88. The company has a market capitalization of $1.09 billion, a PE ratio of -25.08 and a beta of 1.05.

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.