Jane Street Group LLC Grows Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Jane Street Group LLC grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 37.2% during the third quarter, Holdings Channel.com reports. The fund owned 807,387 shares of the mining company’s stock after purchasing an additional 219,077 shares during the quarter. Jane Street Group LLC’s holdings in NovaGold Resources were worth $3,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its holdings in shares of NovaGold Resources by 16.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 21,485,443 shares of the mining company’s stock valued at $74,340,000 after purchasing an additional 3,042,480 shares in the last quarter. Lingotto Investment Management LLP increased its stake in NovaGold Resources by 10.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 19,428,261 shares of the mining company’s stock valued at $67,222,000 after purchasing an additional 1,790,528 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of NovaGold Resources in the second quarter worth about $2,029,000. Bank of Montreal Can raised its holdings in shares of NovaGold Resources by 26.5% during the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock worth $5,377,000 after purchasing an additional 267,713 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of NovaGold Resources by 5.0% in the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock valued at $17,717,000 after buying an additional 206,610 shares during the period. Institutional investors own 57.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of NovaGold Resources to a “strong-buy” rating in a report on Thursday, October 3rd.

NovaGold Resources Stock Up 1.8 %

NYSEAMERICAN:NG opened at $3.35 on Friday. NovaGold Resources Inc. has a 12 month low of $2.22 and a 12 month high of $4.88. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -25.77 and a beta of 1.07.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last announced its quarterly earnings results on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).

NovaGold Resources Profile

NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.