[SCHEDULE 13G/A] NovaGold Resources Inc. SEC Filing

Rhea-AI Filing Summary

First Eagle Investment Management, LLC has filed Amendment No. 4 to Schedule 13G disclosing its current ownership in NovoGold Resources Inc. (NG) as of 30 June 2025.

• Shares held: 11,805,442 common shares.
• Ownership percentage: 2.9 % of outstanding stock.
• Voting/dispositive power: Sole authority over all reported shares; no shared power.
• Filer classification: Investment adviser filing under Rule 13d-1(b).
• Certification: Position held in the ordinary course; not intended to influence control.

The filing notes “Ownership of 5 % or Less,” confirming the stake has dropped below the 5 % large-shareholder threshold. While this reduces First Eagle’s potential influence in proxy matters, it still remains a notable institutional holder with nearly 12 million shares.

No financial results, operational updates, or transaction details beyond the change in share ownership are included in this filing.

Insights

Institutional Ownership Analyst

TL;DR: First Eagle now holds 2.9 % of NG, signalling diminished influence; impact on fundamentals minimal and largely neutral.

The amendment confirms First Eagle’s ownership has fallen under 5 %, triggering the “ownership of 5 % or less” disclosure. Although nearly 12 million shares remains material, the reduced stake means the adviser is no longer a Schedule 13D-level influencer. From a governance perspective this slightly dilutes concentrated institutional oversight, but there is no immediate effect on NovaGold’s operations or capital structure. Trading liquidity should not be affected because the shares are still held, not sold on-market. Overall market impact: neutral.

Portfolio Manager

TL;DR: Drop below 5 % suggests earlier trimming; modest negative sentiment as a key shareholder scales back.

For portfolio positioning, a decline to 2.9 % indicates First Eagle likely reduced exposure. While they remain invested, exiting the large-holder category could signal reevaluation of NovaGold’s risk-reward profile. Unless offset by other buyers, this may remove a support pillar for the stock. However, because the shares are still under sole control, near-term selling pressure is not confirmed. Net impact leans mildly negative but not materially so.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

NOVAGOLD RESOURCES INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

66987E206

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 66987E206

1

Names of Reporting Persons

First Eagle Investment Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,805,442.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,805,442.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,805,442.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NOVAGOLD RESOURCES INC
(b)	Address of issuer's principal executive offices: 201 SOUTH MAIN, 201 SOUTH MAIN, SALT LAKE CITY, NEW YORK, 84111
Item 2.
(a)	Name of person filing: First Eagle Investment Management, LLC
(b)	Address or principal business office or, if none, residence: 1345 Avenue of the Americas New York, NY 10105
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 66987E206
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 11,805,442
(b)	Percent of class: 2.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,805,442
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11,805,442
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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 that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

First Eagle Investment Management, LLC

Signature:	David O'Connor
Name/Title:	General Counsel
Date:	08/06/2025