Firestone Capital Management Acquires Shares of 31,650 NovaGold Resources Inc. (NYSEAMERICAN:NG)

Firestone Capital Management bought a new stake in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 31,650 shares of the mining company’s stock, valued at approximately $110,000.

A number of other large investors also recently made changes to their positions in NG. Paulson & CO. Inc. increased its stake in NovaGold Resources by 5.9% in the fourth quarter. Paulson & CO. Inc. now owns 23,541,483 shares of the mining company’s stock valued at $88,045,000 after purchasing an additional 1,315,183 shares in the last quarter. Russell Investments Group Ltd. grew its stake in NovaGold Resources by 37.0% in the first quarter. Russell Investments Group Ltd. now owns 2,119,689 shares of the mining company’s stock valued at $6,359,000 after acquiring an additional 572,273 shares during the period. Vanguard Group Inc. increased its holdings in shares of NovaGold Resources by 3.7% in the first quarter. Vanguard Group Inc. now owns 10,378,109 shares of the mining company’s stock worth $31,134,000 after acquiring an additional 367,401 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NovaGold Resources by 24.0% during the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company’s stock worth $3,105,000 after purchasing an additional 173,817 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of NovaGold Resources by 13.6% during the 1st quarter. BNP Paribas Financial Markets now owns 298,180 shares of the mining company’s stock valued at $895,000 after purchasing an additional 35,743 shares in the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.

NovaGold Resources Trading Down 4.9 %

Shares of NG stock opened at $4.30 on Tuesday. NovaGold Resources Inc. has a 52-week low of $2.22 and a 52-week high of $4.88. The stock has a market capitalization of $1.44 billion, a PE ratio of -33.08 and a beta of 1.05.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its earnings results on Wednesday, June 26th. The mining company reported ($0.04) earnings per share for the quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on NG. StockNews.com lowered shares of NovaGold Resources from a “hold” rating to a “sell” rating in a research note on Sunday, July 28th. National Bank Financial downgraded NovaGold Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th.

About NovaGold Resources

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.