Boyle Capital Management Lowers stake in NovaGold Resources (USA) (NG)

NovaGold Resources (USA) (NG) : Boyle Capital Management reduced its stake in NovaGold Resources (USA) by 2.77% during the most recent quarter end. The investment management company now holds a total of 268,168 shares of NovaGold Resources (USA) which is valued at $1.6 Million after selling 7,650 shares in NovaGold Resources (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.NovaGold Resources (USA) makes up approximately 1.94% of Boyle Capital Management’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp boosted its stake in NG in the latest quarter, The investment management firm added 36,749 additional shares and now holds a total of 138,332 shares of NovaGold Resources (USA) which is valued at $847,975. Telemark Asset Management added NG to its portfolio by purchasing 300,000 company shares during the most recent quarter which is valued at $1.8 Million. NovaGold Resources (USA) makes up approx 0.44% of Telemark Asset Management’s portfolio.Blackrock Fund Advisors boosted its stake in NG in the latest quarter, The investment management firm added 32,458 additional shares and now holds a total of 46,875 shares of NovaGold Resources (USA) which is valued at $287,344. David R. Rahn Associates added NG to its portfolio by purchasing 67,782 company shares during the most recent quarter which is valued at $433,127. NovaGold Resources (USA) makes up approx 0.35% of David R. Rahn Associates’s portfolio.Quantitative Investment Management boosted its stake in NG in the latest quarter, The investment management firm added 16,600 additional shares and now holds a total of 118,000 shares of NovaGold Resources (USA) which is valued at $754,020. NovaGold Resources (USA) makes up approx 0.04% of Quantitative Investment Management’s portfolio.

NovaGold Resources (USA) opened for trading at $5.19 and hit $5.33 on the upside on Wednesday, eventually ending the session at $5.32, with a gain of 1.53% or 0.08 points. The heightened volatility saw the trading volume jump to 34,45,423 shares. Company has a market cap of $1,701 M.

NOVAGOLD RESOURCES INC. (NOVAGOLD) is engaged in the exploration and development of mineral properties. The Company operates in the mining industry focused on the exploration for and development of gold and copper mineral properties. The Company’s principal assets include a 50% interest in the Donlin Gold project in Alaska the United States and a 50% interest in the Galore Creek project in British Columbia Canada. The Company’s primary focus is on the Donlin Gold project. The Donlin Gold project is owned and operated by Donlin Gold LLC a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (Barrick). The Galore Creek project is owned by the Galore Creek Partnership a partnership in which NOVAGOLD Canada Inc a wholly owned subsidiary of NOVAGOLD owns approximately 50% interest. The Company has no operations or realized revenues from its planned principal business purpose.

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