NovaGold Resources Inc. (NYSEAMERICAN:NG) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its position in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 20.5% in the third quarter, Holdings Channel reports. The firm owned 1,146,787 shares of the mining company’s stock after purchasing an additional 195,117 shares during the quarter. Wellington Management Group LLP’s holdings in NovaGold Resources were worth $4,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NG. Northwest & Ethical Investments L.P. acquired a new stake in shares of NovaGold Resources during the third quarter worth $31,000. AQR Capital Management LLC bought a new position in NovaGold Resources in the second quarter worth about $49,000. Evoke Wealth LLC acquired a new position in NovaGold Resources in the second quarter valued at approximately $66,000. Banque Cantonale Vaudoise bought a new position in shares of NovaGold Resources during the third quarter valued at approximately $102,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of NovaGold Resources during the 3rd quarter worth approximately $121,000. 57.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

NovaGold Resources Price Performance

Shares of NG stock opened at $3.42 on Tuesday. NovaGold Resources Inc. has a 12-month low of $2.22 and a 12-month high of $4.88. The company has a market capitalization of $1.14 billion, a P/E ratio of -26.31 and a beta of 1.07.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last issued its quarterly earnings results on Wednesday, October 2nd. The mining company reported ($0.03) 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.