FMR LLC & Abigail Johnson Maintain 7.1% Stake in NOVAGOLD

TL;DR

**FMR LLC and Abigail Johnson still own 7.1% of NOVAGOLD, signaling continued institutional confidence.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have filed an amended Schedule 13G/A for NOVAGOLD RESOURCES INC, indicating they beneficially own 23,754,009 shares of common stock, representing 7.108% of the company. This filing, dated February 9, 2024, shows a slight adjustment in their reported holdings and confirms their continued significant stake in the gold and silver mining company. For investors, this means a large institutional holder maintains a substantial position, which can signal confidence in the company's long-term prospects, particularly its gold projects.

Why It Matters

This filing confirms a major institutional investor, FMR LLC, and its principal, Abigail P. Johnson, continue to hold a significant stake in NOVAGOLD RESOURCES INC, which can be seen as a vote of confidence in the company's future. Their continued ownership of 7.108% of the common stock suggests they believe in the company's long-term value, potentially influencing other investors.

Risk Assessment

Risk Level: low — This filing is an amendment to a passive ownership report, indicating no immediate change in control or significant new risks for investors.

Analyst Insight

A smart investor would note the continued significant institutional ownership by FMR LLC and Abigail P. Johnson as a potential sign of long-term confidence in NOVAGOLD RESOURCES INC. While this filing doesn't indicate new buying or selling, it confirms a stable, large holder, which can be a positive signal. Investors should consider this stability alongside other fundamental analysis of NOVAGOLD's operations and future prospects.

Key Numbers

• 23,754,009 — Shares Beneficially Owned (This is the total number of common shares of NOVAGOLD RESOURCES INC that FMR LLC and Abigail P. Johnson collectively beneficially own, indicating their substantial investment.)
• 7.108% — Percent of Class (This represents the percentage of NOVAGOLD RESOURCES INC's common stock owned by FMR LLC and Abigail P. Johnson, highlighting their significant influence as a major shareholder.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
• NOVAGOLD RESOURCES INC (company) — the issuer of the securities
• 23,754,009 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
• 7.108% (dollar_amount) — percentage of class beneficially owned by FMR LLC and Abigail P. Johnson
• February 9, 2024 (date) — date of filing

Forward-Looking Statements

• FMR LLC will maintain a significant stake in NOVAGOLD RESOURCES INC for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
• NOVAGOLD RESOURCES INC's stock price will experience stability due to continued institutional support. (NOVAGOLD RESOURCES INC) — medium confidence, target: 2024-08-09

FAQ

From the Filing

0000315066-24-001280.txt : 20240209 0000315066-24-001280.hdr.sgml : 20240209 20240209092831 ACCESSION NUMBER: 0000315066-24-001280 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NOVAGOLD RESOURCES INC CENTRAL INDEX KEY: 0001173420 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80075 FILM NUMBER: 24611906 BUSINESS ADDRESS: STREET 1: 201 SOUTH MAIN STREET 2: SUITE 400 CITY: SALT LAKE CITY STATE: UT ZIP: 84111 BUSINESS PHONE: 801-449-9328 MAIL ADDRESS: STREET 1: 201 SOUTH MAIN STREET 2: SUITE 400 CITY: SALT LAKE CITY STATE: UT ZIP: 84111 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.8 NOVAGOLD RESOURCES INC COMMON STOCK Cusip #66987E206 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #66987E206 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 23,749,866 Item 6: 0 Item 7: 23,754,009 Item 8: 0 Item 9: 23,754,009 Item 11: 7.108% Item 12: HC Cusip #66987E206 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 23,754,009 Item 8: 0 Item 9: 23,754,009 Item 11: 7.108% Item 12: IN Item 1(a). Name of Issuer: NOVAGOLD RESOURCES INC Item 1(b). Address of Issuer's Principal Executive Offices: 201 SOUTH MAIN, SUITE 400 SALT LAKE CITY, UT 84111 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 66987E206 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 23,754,009 (b) Percent of Class: 7.108% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 23,754,009 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of NOVAGOLD RESOURCES INC. No one other person's interest in the COMMON STOCK of NOVAGOLD RESOURCES INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify tha