Wells Fargo & Company MN Decreases Holdings in NovaGold Resources Inc. (NG)


Wells Fargo & Company MN lowered its stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 5.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,071,600 shares of the mining company’s stock after selling 57,571 shares during the period. Wells Fargo & Company MN’s holdings in NovaGold Resources were worth $4,640,000 as of its most recent SEC filing.


Other large investors also recently modified their holdings of the company. Brown Advisory Inc. raised its holdings in shares of NovaGold Resources by 57.7% during the 4th quarter. Brown Advisory Inc. now owns 153,095 shares of the mining company’s stock valued at $602,000 after purchasing an additional 56,025 shares in the last quarter. LPL Financial LLC raised its holdings in shares of NovaGold Resources by 789.8% during the 4th quarter. LPL Financial LLC now owns 163,287 shares of the mining company’s stock valued at $642,000 after purchasing an additional 144,935 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of NovaGold Resources by 191.2% during the 4th quarter. Deutsche Bank AG now owns 209,620 shares of the mining company’s stock valued at $823,000 after purchasing an additional 137,626 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of NovaGold Resources by 40.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 251,152 shares of the mining company’s stock valued at $987,000 after purchasing an additional 71,698 shares in the last quarter.


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A number of research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of NovaGold Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. JPMorgan Chase & Co. cut their price target on shares of NovaGold Resources from $7.50 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, April 24th.

Shares of NovaGold Resources opened at $4.45 on Monday, according to Marketbeat.com. NovaGold Resources Inc. has a one year low of $3.35 and a one year high of $5.05.


NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its earnings results on Wednesday, April 4th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

NovaGold Resources Company Profile

NovaGold Resources Inc explores for and develops mineral properties in Canada and the United States. The company primarily explores for gold, silver, and copper deposits. It primarily holds a 50% interest in the Donlin Gold property that covers an area of 71,420 acres located in the Kuskokwim region of southwestern Alaska.

Want to see what other hedge funds are holding NG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG).

Institutional Ownership by Quarter for NovaGold Resources (NYSEAMERICAN:NG)

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