Sprott Inc. Sells 306,456 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Sprott Inc. decreased its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 16.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,511,197 shares of the mining company’s stock after selling 306,456 shares during the quarter. Sprott Inc.’s holdings in NovaGold Resources were worth $5,032,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in NovaGold Resources in the third quarter valued at approximately $102,000. Intech Investment Management LLC acquired a new position in shares of NovaGold Resources in the 3rd quarter valued at $182,000. Dynamic Technology Lab Private Ltd bought a new position in shares of NovaGold Resources in the 3rd quarter worth $223,000. Bank of Montreal Can grew its stake in shares of NovaGold Resources by 26.5% during the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock worth $5,377,000 after purchasing an additional 267,713 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of NovaGold Resources by 15.0% during the third quarter. BNP Paribas Financial Markets now owns 69,267 shares of the mining company’s stock worth $284,000 after purchasing an additional 9,009 shares during the period. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Trading Down 0.7 %

NYSEAMERICAN:NG opened at $2.97 on Wednesday. NovaGold Resources Inc. has a 1-year low of $2.31 and a 1-year high of $4.88. The stock has a market capitalization of $993.91 million, a price-to-earnings ratio of -22.85 and a beta of 1.05.

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.