Mirador Capital Partners LP Purchases 189,365 Shares of Novagold Resources Inc. $NG

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

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in Novagold Resources by 34,166.7% in the first quarter. Sunbelt Securities Inc. now owns 3,084 shares of the mining company’s stock worth $28,000 after purchasing an additional 3,075 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Novagold Resources by 179.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,375 shares of the mining company’s stock worth $28,000 after buying an additional 2,812 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Novagold Resources by 91.8% in the third quarter. Farther Finance Advisors LLC now owns 4,851 shares of the mining company’s stock worth $32,000 after acquiring an additional 2,322 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Novagold Resources in the second quarter worth $33,000. Finally, Versant Capital Management Inc increased its position in Novagold Resources by 44.1% during the third quarter. Versant Capital Management Inc now owns 7,779 shares of the mining company’s stock valued at $51,000 after acquiring an additional 2,380 shares during the last quarter. 57.56% of the stock is owned by hedge funds and other institutional investors.

Novagold Resources Price Performance

NYSEAMERICAN NG opened at $6.71 on Friday. The business’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 company has a debt-to-equity ratio of 0.41, a quick ratio of 112.82 and a current ratio of 112.82. The company has a market capitalization of $2.94 billion, a PE ratio of -31.95 and a beta of 0.95.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. B. Riley Financial initiated coverage on Novagold Resources in a report on Monday, August 3rd. They issued a “buy” rating and a $9.00 target price on the stock. Morgan Stanley reduced their price target on shares of Novagold Resources from $13.60 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.30.

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.