Cedar Wealth Management LLC Increases Stake in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Cedar Wealth Management LLC boosted its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,787 shares of the mining company’s stock after purchasing an additional 15,460 shares during the period. Cedar Wealth Management LLC owned about 0.05% of NovaGold Resources worth $569,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AXQ Capital LP bought a new stake in shares of NovaGold Resources in the 4th quarter worth approximately $59,000. American Century Companies Inc. grew its position in shares of NovaGold Resources by 2.0% in the 4th quarter. American Century Companies Inc. now owns 629,390 shares of the mining company’s stock worth $2,105,000 after buying an additional 12,246 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of NovaGold Resources in the 4th quarter worth approximately $76,000. Wealthfront Advisers LLC bought a new stake in shares of NovaGold Resources in the 4th quarter worth approximately $139,000. Finally, Amundi grew its position in shares of NovaGold Resources by 11.6% in the 4th quarter. Amundi now owns 2,414,702 shares of the mining company’s stock worth $8,138,000 after buying an additional 251,583 shares during the last quarter. 57.56% of the stock is owned by hedge funds and other institutional investors.

NovaGold Resources Stock Down 0.9 %

NYSEAMERICAN NG opened at $3.39 on Friday. NovaGold Resources Inc. has a twelve month low of $2.56 and a twelve month high of $4.88. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -26.08 and a beta of 1.05. The company’s 50 day moving average price is $3.23.

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.