Wellington Management Group LLP Boosts Stock Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Wellington Management Group LLP grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 20.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,146,787 shares of the mining company’s stock after purchasing an additional 195,117 shares during the period. Wellington Management Group LLP owned approximately 0.34% of NovaGold Resources worth $4,702,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in NovaGold Resources by 59.6% during the second quarter. SG Americas Securities LLC now owns 165,952 shares of the mining company’s stock worth $574,000 after purchasing an additional 61,982 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NovaGold Resources by 24.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company’s stock worth $3,105,000 after buying an additional 173,817 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NovaGold Resources by 15.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,210 shares of the mining company’s stock valued at $225,000 after buying an additional 8,441 shares during the period. CIBC Asset Management Inc boosted its stake in shares of NovaGold Resources by 9.7% in the second quarter. CIBC Asset Management Inc now owns 304,046 shares of the mining company’s stock valued at $1,064,000 after buying an additional 26,984 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in NovaGold Resources by 18.1% during the second quarter. Rhumbline Advisers now owns 394,138 shares of the mining company’s stock worth $1,364,000 after acquiring an additional 60,396 shares during the period. Hedge funds and other institutional investors own 57.56% of the company’s stock.

NovaGold Resources Trading Up 0.6 %

NG opened at $3.42 on Tuesday. The firm has a market cap of $1.14 billion, a P/E ratio of -26.31 and a beta of 1.07. NovaGold Resources Inc. has a 52 week low of $2.22 and a 52 week high of $4.88.

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

Analysts Set New Price Targets

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

About NovaGold Resources

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.