Sterling Capital Management LLC Grows Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Sterling Capital Management LLC raised its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 814.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,813 shares of the mining company’s stock after acquiring an additional 6,959 shares during the quarter. Sterling Capital Management LLC’s holdings in NovaGold Resources were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC lifted its stake in NovaGold Resources by 2.1% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 270,546 shares of the mining company’s stock worth $901,000 after purchasing an additional 5,546 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NovaGold Resources by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company’s stock worth $12,497,000 after buying an additional 9,629 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of NovaGold Resources by 2.0% in the 4th quarter. American Century Companies Inc. now owns 629,390 shares of the mining company’s stock valued at $2,105,000 after buying an additional 12,246 shares in the last quarter. Cedar Wealth Management LLC grew its position in shares of NovaGold Resources by 10.0% in the 4th quarter. Cedar Wealth Management LLC now owns 170,787 shares of the mining company’s stock valued at $569,000 after buying an additional 15,460 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in NovaGold Resources by 8.8% during the 4th quarter. SG Americas Securities LLC now owns 214,126 shares of the mining company’s stock worth $713,000 after acquiring an additional 17,341 shares in the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised NovaGold Resources to a “hold” rating in a report on Friday, March 21st.

NovaGold Resources Price Performance

NovaGold Resources stock opened at $4.44 on Friday. The stock’s 50 day moving average price is $3.15 and its 200 day moving average price is $3.41. NovaGold Resources Inc. has a 1-year low of $2.26 and a 1-year high of $5.06. The company has a market cap of $1.49 billion, a PE ratio of -34.15 and a beta of 1.05.

NovaGold Resources 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.