SCHEDULE: Paulson & Co. Maintains 9.8% Stake in NOVAGOLD
Beneficial Ownership Report (Amendment)
Paulson & Co. Inc. and Paulson Advisers LLC have reported a continued beneficial ownership of 9.8% in NOVAGOLD RESOURCES INC., including shares underlying warrants.
Summary
- Paulson & Co. Inc. and Paulson Advisers LLC collectively hold beneficial ownership of 39,988,061 common shares of NOVAGOLD RESOURCES INC.
- This ownership represents 9.8% of NOVAGOLD's common shares outstanding.
- The reported ownership includes 12,750,000 shares underlying warrants exercisable within 60 days of June 30, 2025.
- The percentage of class is based on 406,897,647 common shares outstanding as of June 20, 2025, as reported in NOVAGOLD's Form 10-Q filed on June 25, 2025.
- Paulson & Co. Inc. and Paulson Advisers LLC, as investment advisers, possess shared voting and dispositive power over these securities.
- The pecuniary interest of these securities is owned by the investment funds and separate managed accounts advised by Paulson, with Paulson disclaiming beneficial ownership except for Section 13(d) purposes.
Sentiment
Score: 6
Explanation: The filing indicates a continued significant stake by a major investment firm, which can be interpreted as a neutral to slightly positive signal regarding the firm's long-term view of the company, despite being a passive ownership disclosure.
Positives
- A prominent investment firm, Paulson & Co., maintains a significant 9.8% stake in NOVAGOLD RESOURCES INC., indicating continued interest or confidence in the company.
Risks
- The beneficial ownership is held by investment funds and accounts managed by Paulson, meaning Paulson itself disclaims direct pecuniary interest, which is standard for investment advisors.
Future Outlook
This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's operations or financial performance.
Industry Context
This filing reflects a significant institutional investment in a gold mining company, which is common for firms specializing in resource sector investments. The continued large stake by Paulson & Co. may be viewed in the context of broader trends in precious metals investment.
Stakeholder Impact
- Shareholders: The continued significant ownership by Paulson & Co. may provide a level of confidence or stability, as a major institutional investor maintains its position.
Key Dates
| Date | Description |
|---|---|
| 2012-05-11 | Original Schedule 13G filing date. |
| 2025-06-20 | Date of common shares outstanding count (406,897,647) as reported in Issuer's Form 10-Q. |
| 2025-06-25 | Date Issuer's Quarterly Report on Form 10-Q was filed with the SEC. |
| 2025-06-30 | Date of event which requires filing of this statement, and the snapshot date for beneficial ownership. |
| 2025-08-14 | Date of this Amendment No. 8 filing. |
Keywords
NOVAGOLD RESOURCES INC, Paulson & Co., Paulson Advisers LLC, Schedule 13G, Beneficial Ownership, Common Shares, Investment Adviser, Gold Mining, Mining Stocks, Institutional Ownership
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