Wellington Management Group LLP Acquires 195,117 Shares of NovaGold Resources Inc. (NYSEAMERICAN:NG)

Wellington Management Group LLP grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG - Free Report) TSE: NG by 20.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,146,787 shares of the mining company's stock after buying 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC boosted its position in NovaGold Resources by 16.5% during 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 buying an additional 3,042,480 shares during the period. Lingotto Investment Management LLP lifted its position 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 acquiring an additional 1,790,528 shares during the period. State Street Corp lifted its position in NovaGold Resources by 5.0% during the 3rd quarter. State Street Corp now owns 4,321,172 shares of the mining company's stock valued at $17,717,000 after acquiring an additional 206,610 shares during the period. Bank of Montreal Can increased its stake in NovaGold Resources by 26.5% during the 3rd quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company's stock valued at $5,377,000 after purchasing an additional 267,713 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $3,105,000 after purchasing an additional 173,817 shares in the last quarter. Hedge funds and other institutional investors own 57.56% of the company's stock.

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.

NovaGold Resources Stock Down 1.3 %

Shares of NYSEAMERICAN:NG traded down $0.04 during trading on Tuesday, reaching $3.38. 1,645,017 shares of the company's stock traded hands, compared to its average volume of 1,697,103. NovaGold Resources Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $4.88. The stock has a market capitalization of $1.13 billion, a PE ratio of -25.96 and a beta of 1.07.

NovaGold Resources (NYSEAMERICAN:NG - Get Free Report) 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).

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.