Cedar Wealth Management LLC Acquires 15,460 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cedar Wealth Management LLC lifted its holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,787 shares of the mining company’s stock after acquiring an additional 15,460 shares during the period. Cedar Wealth Management LLC’s holdings in NovaGold Resources were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NG. Robertson Stephens Wealth Management LLC boosted 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 valued at $901,000 after buying an additional 5,546 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new position in NovaGold Resources during the third quarter valued at approximately $31,000. BNP Paribas Financial Markets boosted its stake in NovaGold Resources by 15.0% during the third quarter. BNP Paribas Financial Markets now owns 69,267 shares of the mining company’s stock valued at $284,000 after buying an additional 9,009 shares during the last quarter. Toronto Dominion Bank boosted its stake in NovaGold Resources by 67.3% during the third quarter. Toronto Dominion Bank now owns 23,300 shares of the mining company’s stock valued at $96,000 after buying an additional 9,377 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in NovaGold Resources by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,046,926 shares of the mining company’s stock valued at $12,497,000 after buying an additional 9,629 shares during the last quarter. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Stock Performance

Shares of NG stock opened at $3.39 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -26.08 and a beta of 1.05. NovaGold Resources Inc. has a 1 year low of $2.56 and a 1 year high of $4.88. The company’s 50 day moving average is $3.23.

NovaGold Resources Company 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.