Novagold Resources Inc. $NG Shares Newly Acquired by Mirador Capital Partners LP

Mirador Capital Partners LP acquired a new position in Novagold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 189,365 shares of the mining company’s stock, valued at approximately $1,231,000.

Several other institutional investors have also recently made changes to their positions in NG. GAMMA Investing LLC raised its stake in Novagold Resources by 179.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,375 shares of the mining company’s stock valued at $28,000 after purchasing an additional 2,812 shares during the period. Farther Finance Advisors LLC grew its holdings in Novagold Resources by 91.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,851 shares of the mining company’s stock valued at $32,000 after buying an additional 2,322 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Novagold Resources during the 3rd quarter valued at approximately $65,000. CapWealth Advisors LLC raised its position in shares of Novagold Resources by 13.4% during the third quarter. CapWealth Advisors LLC now owns 509,193 shares of the mining company’s stock valued at $3,310,000 after buying an additional 60,203 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Novagold Resources by 44.1% in the third quarter. Versant Capital Management Inc now owns 7,779 shares of the mining company’s stock worth $51,000 after buying an additional 2,380 shares in the last quarter. Hedge funds and other institutional investors own 57.56% of the company’s stock.

Analysts Set New Price Targets

NG has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of Novagold Resources from $13.60 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday. B. Riley Financial began coverage on shares of Novagold Resources in a report on Monday, August 3rd. They set a “buy” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Novagold Resources currently has an average rating of “Buy” and an average price target of $12.30.

Novagold Resources Trading Up 6.8%

Shares of NG opened at $6.71 on Friday. The company’s fifty day moving average is $7.57 and its 200 day moving average is $7.66. Novagold Resources Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $14.40. The stock has a market capitalization of $2.94 billion, a PE ratio of -31.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 112.82 and a current ratio of 112.82.

Novagold Resources (NYSEAMERICAN:NG) (TSE:NG) last released its quarterly earnings data on Thursday, October 8th. The mining company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sell-side analysts expect that Novagold Resources Inc. will post -0.13 earnings per share for the current fiscal year.

Novagold Resources Profile

Novagold Resources Inc is a Canada-based precious metals exploration and development company focused on advancing the Donlin Gold project in southwest Alaska. The project is held through Donlin Gold LLC, which is owned equally by Novagold and Barrick Gold Corporation. Donlin Gold is one of the largest undeveloped gold deposits in the world and is located on lands owned by the Calista Corporation and The Kuskokwim Corporation.

Novagold does not currently operate producing mines. Its primary activities include project evaluation, permitting, technical studies, exploration, and community and stakeholder engagement related to Donlin Gold.