Did Hedge Funds Make The Right Call On NovaGold Resources Inc. (NG) ?

NG) based on that data and determine whether they were really smart about the stock.” data-reactid=”12″>Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find articles about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves over the last 4.5 years and analyze what the smart money thinks of NovaGold Resources Inc. (NYSE:NG) based on that data and determine whether they were really smart about the stock.

NG) investors should pay attention to an increase in support from the world’s most elite money managers of late. NG was in 19 hedge funds’ portfolios at the end of March. There were 16 hedge funds in our database with NG positions at the end of the previous quarter. Our calculations also showed that NG isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.” data-reactid=”13″>NovaGold Resources Inc. (NYSE:NG) investors should pay attention to an increase in support from the world’s most elite money managers of late. NG was in 19 hedge funds’ portfolios at the end of March. There were 16 hedge funds in our database with NG positions at the end of the previous quarter. Our calculations also showed that NG isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

see the details here). That’s why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.” data-reactid=”19″>In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey’s monthly stock picks returned 101% since March 2017 and outperformed the S&P 500 ETFs by more than 58 percentage points. Our short strategy outperformed the S&P 500 short ETFs by 20 percentage points annually (see the details here). That’s why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.

John Paulson of Paulson & Co

under-the-radar stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. Now we’re going to view the key hedge fund action encompassing NovaGold Resources Inc. (NYSE:NG).” data-reactid=”41″>At Insider Monkey we scour multiple sources to uncover the next great investment idea. Cannabis stocks are roaring back in 2020, so we are checking out this under-the-radar stock. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. Now we’re going to view the key hedge fund action encompassing NovaGold Resources Inc. (NYSE:NG).

What does smart money think about NovaGold Resources Inc. (NYSE:NG)?

At the end of the first quarter, a total of 19 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 19% from the previous quarter. On the other hand, there were a total of 13 hedge funds with a bullish position in NG a year ago. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

Paulson & Co was the largest shareholder of NovaGold Resources Inc. (NYSE:NG), with a stake worth $186.2 million reported as of the end of September. Trailing Paulson & Co was Empyrean Capital Partners, which amassed a stake valued at $33.5 million. JNE Partners, Kopernik Global Investors, and RIT Capital Partners were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position JNE Partners allocated the biggest weight to NovaGold Resources Inc. (NYSE:NG), around 23.25% of its 13F portfolio. RIT Capital Partners is also relatively very bullish on the stock, designating 7.33 percent of its 13F equity portfolio to NG.” data-reactid=”60″>More specifically, Paulson & Co was the largest shareholder of NovaGold Resources Inc. (NYSE:NG), with a stake worth $186.2 million reported as of the end of September. Trailing Paulson & Co was Empyrean Capital Partners, which amassed a stake valued at $33.5 million. JNE Partners, Kopernik Global Investors, and RIT Capital Partners were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position JNE Partners allocated the biggest weight to NovaGold Resources Inc. (NYSE:NG), around 23.25% of its 13F portfolio. RIT Capital Partners is also relatively very bullish on the stock, designating 7.33 percent of its 13F equity portfolio to NG.

Market Trading EssentialsAugust 4, 2020

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