First Eagle Investment Management LLC Sells 51,914 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

First Eagle Investment Management LLC lessened its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 26,034,894 shares of the mining company’s stock after selling 51,914 shares during the period. First Eagle Investment Management LLC owned 0.08% of NovaGold Resources worth $86,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of NovaGold Resources in the third quarter worth about $102,000. Intech Investment Management LLC bought a new stake in NovaGold Resources in the third quarter valued at approximately $182,000. Dynamic Technology Lab Private Ltd bought a new stake in NovaGold Resources in the third quarter valued at approximately $223,000. Bank of Montreal Can increased its stake in NovaGold Resources by 26.5% in the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock valued at $5,377,000 after purchasing an additional 267,713 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in NovaGold Resources by 15.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 69,267 shares of the mining company’s stock valued at $284,000 after acquiring an additional 9,009 shares in the last quarter. 57.56% of the stock is currently owned by institutional investors and hedge funds.

NovaGold Resources Stock Performance

NYSEAMERICAN:NG opened at $3.45 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of -26.54 and a beta of 1.05. NovaGold Resources Inc. has a 52-week low of $2.52 and a 52-week high of $4.88. The stock’s 50-day moving average price is $3.22.

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.