Robertson Stephens Wealth Management LLC Acquires 16,687 Shares of Novagold Resources Inc. (NYSEAMERICAN:NG)

Robertson Stephens Wealth Management LLC boosted its holdings in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,233 shares of the mining company’s stock after purchasing an additional 16,687 shares during the period. Robertson Stephens Wealth Management LLC owned about 0.09% of Novagold Resources worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in NG. Lingotto Investment Management LLP grew its stake in shares of Novagold Resources by 3.5% in the fourth quarter. Lingotto Investment Management LLP now owns 20,902,054 shares of the mining company’s stock valued at $69,604,000 after buying an additional 702,636 shares in the last quarter. Kopernik Global Investors LLC grew its position in shares of Novagold Resources by 23.1% in the 4th quarter. Kopernik Global Investors LLC now owns 17,006,844 shares of the mining company’s stock valued at $56,633,000 after acquiring an additional 3,187,981 shares during the period. Vanguard Group Inc. grew its position in shares of Novagold Resources by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 10,754,870 shares of the mining company’s stock valued at $35,963,000 after acquiring an additional 169,209 shares during the period. Geode Capital Management LLC grew its position in shares of Novagold Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,067,144 shares of the mining company’s stock valued at $10,220,000 after acquiring an additional 20,218 shares during the period. Finally, Amundi grew its holdings in Novagold Resources by 11.6% during 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. Institutional investors own 57.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank Of Canada raised shares of Novagold Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $5.00 to $7.00 in a report on Wednesday, June 4th. National Bank Financial raised shares of Novagold Resources to a “hold” rating in a report on Friday, March 21st.

Novagold Resources Trading Down 0.7%

Shares of Novagold Resources stock opened at $4.36 on Thursday. The company has a 50 day moving average of $3.84 and a 200-day moving average of $3.46. 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 $1.77 billion, a PE ratio of -33.54 and a beta of 0.63.

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.