Virtu Financial LLC Takes $308,000 Position in NovaGold Resources Inc. (NYSEAMERICAN:NG)

Virtu Financial LLC purchased a new position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 75,195 shares of the mining company’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NG. First Eagle Investment Management LLC increased its holdings in shares of NovaGold Resources by 16.5% in 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 acquiring an additional 3,042,480 shares during the period. Lingotto Investment Management LLP grew 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 worth $67,222,000 after purchasing an additional 1,790,528 shares during the last quarter. American Century Companies Inc. acquired a new position in NovaGold Resources in the second quarter valued at $2,029,000. Bank of Montreal Can raised its holdings in shares of NovaGold Resources by 26.5% in the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock valued at $5,377,000 after buying an additional 267,713 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of NovaGold Resources by 37.2% during the third quarter. Jane Street Group LLC now owns 807,387 shares of the mining company’s stock worth $3,310,000 after buying an additional 219,077 shares during the period. 57.56% of the stock is owned by hedge funds and other institutional investors.

NovaGold Resources Price Performance

Shares of NYSEAMERICAN NG opened at $3.42 on Tuesday. NovaGold Resources Inc. has a 1-year low of $2.22 and a 1-year high of $4.88. 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 (NYSEAMERICAN:NG) (TSE:NG) last issued its earnings results on Wednesday, October 2nd. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

Wall Street Analyst Weigh In

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.