Shell Asset Management Co. Sells 4,000 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Shell Asset Management Co. decreased its stake in NovaGold Resources Inc. (NYSEAMERICAN:NGGet Rating) (TSE:NG) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,989 shares of the mining company’s stock after selling 4,000 shares during the period. Shell Asset Management Co.’s holdings in NovaGold Resources were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Alpha Cubed Investments LLC bought a new position in shares of NovaGold Resources during the 2nd quarter valued at $48,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of NovaGold Resources during the 1st quarter valued at $78,000. Engineers Gate Manager LP bought a new position in shares of NovaGold Resources during the 1st quarter valued at $85,000. Aire Advisors LLC bought a new position in shares of NovaGold Resources during the 2nd quarter valued at $96,000. Finally, Aigen Investment Management LP bought a new position in shares of NovaGold Resources during the 1st quarter valued at $161,000. Institutional investors own 52.06% of the company’s stock.

Insider Transactions at NovaGold Resources

In other news, CEO Gregory A. Lang sold 45,382 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $5.57, for a total value of $252,777.74. Following the completion of the sale, the chief executive officer now directly owns 9,049 shares of the company’s stock, valued at approximately $50,402.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Gregory A. Lang sold 20,454 shares of NovaGold Resources stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $4.80, for a total transaction of $98,179.20. Following the completion of the transaction, the chief executive officer now directly owns 8,801 shares of the company’s stock, valued at approximately $42,244.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory A. Lang sold 45,382 shares of NovaGold Resources stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $5.57, for a total transaction of $252,777.74. Following the transaction, the chief executive officer now directly owns 9,049 shares of the company’s stock, valued at $50,402.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,880 shares of company stock valued at $369,483. Company insiders own 3.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NG. B. Riley cut their price target on shares of NovaGold Resources from $28.00 to $10.00 in a report on Tuesday, October 25th. National Bank Financial raised their price target on shares of NovaGold Resources from C$9.00 to C$10.00 in a report on Thursday, October 13th.

NovaGold Resources Trading Up 2.1 %

NYSEAMERICAN:NG opened at $5.44 on Friday. The stock has a 50-day moving average of $5.44. NovaGold Resources Inc. has a 12 month low of $4.06 and a 12 month high of $8.36. The company has a debt-to-equity ratio of 2.96, a quick ratio of 45.43 and a current ratio of 45.44. The stock has a market cap of $1.81 billion, a PE ratio of -36.26 and a beta of 0.73.

NovaGold Resources (NYSEAMERICAN:NGGet Rating) (TSE:NG) last posted its earnings results on Tuesday, October 4th. The mining company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities analysts forecast that NovaGold Resources Inc. will post -0.12 EPS for the current fiscal year.

NovaGold Resources Profile

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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.

See Also

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

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