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

Jane Street Group LLC increased its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 37.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NG. Bank of New York Mellon Corp boosted its holdings in NovaGold Resources by 24.0% during the second quarter. Bank of New York Mellon Corp now owns 897,411 shares of the mining company's stock valued at $3,105,000 after acquiring an additional 173,817 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NovaGold Resources by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,210 shares of the mining company's stock valued at $225,000 after purchasing an additional 8,441 shares during the period. CIBC Asset Management Inc boosted its stake in NovaGold Resources by 9.7% during the 2nd quarter. CIBC Asset Management Inc now owns 304,046 shares of the mining company's stock valued at $1,064,000 after purchasing an additional 26,984 shares during the period. Rhumbline Advisers grew its holdings in NovaGold Resources by 18.1% in the 2nd quarter. Rhumbline Advisers now owns 394,138 shares of the mining company's stock valued at $1,364,000 after buying an additional 60,396 shares during the last quarter. Finally, Fore Capital LLC bought a new position in NovaGold Resources in the 2nd quarter worth approximately $104,000. Institutional investors own 57.56% of the company's stock.

NovaGold Resources Stock Up 1.8 %

NG traded up $0.06 during midday trading on Friday, reaching $3.35. 3,591,629 shares of the company's stock were exchanged, compared to its average volume of 1,705,866. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -25.77 and a beta of 1.07. NovaGold Resources Inc. has a one year low of $2.22 and a one year high of $4.88.

NovaGold Resources (NYSEAMERICAN:NG - Get Free Report) TSE: NG last released its quarterly earnings data 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 Analyst Weigh In

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.