Jane Street Group LLC Purchases 219,077 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Jane Street Group LLC grew its holdings in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 37.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 owned approximately 0.24% of NovaGold Resources worth $3,310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NG. Northwest & Ethical Investments L.P. purchased a new position in NovaGold Resources during the third quarter valued at $31,000. AQR Capital Management LLC purchased a new position in shares of NovaGold Resources during the 2nd quarter valued at about $49,000. Evoke Wealth LLC bought a new position in shares of NovaGold Resources during the 2nd quarter valued at approximately $66,000. Banque Cantonale Vaudoise bought a new stake in NovaGold Resources during the 3rd quarter worth approximately $102,000. Finally, Point72 Asset Management L.P. purchased a new position in NovaGold Resources during the third quarter valued at approximately $121,000. Institutional investors own 57.56% of the company’s stock.

NovaGold Resources Stock Up 1.8 %

NYSEAMERICAN NG opened at $3.35 on Friday. NovaGold Resources Inc. has a one year low of $2.22 and a one year high of $4.88. The company has a market cap of $1.12 billion, a PE ratio of -25.77 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

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

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.