JPMorgan Chase & Co. Raises Stock Holdings in NovaGold Resources Inc. (NYSEAMERICAN:NG)

JPMorgan Chase & Co. grew its stake in NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 394,749 shares of the mining company’s stock after acquiring an additional 69,785 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of NovaGold Resources worth $1,618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NG. American Century Companies Inc. purchased a new stake in shares of NovaGold Resources in the second quarter valued at $2,029,000. Bank of Montreal Can lifted its position in NovaGold Resources by 26.5% during the third quarter. Bank of Montreal Can now owns 1,278,090 shares of the mining company’s stock worth $5,377,000 after buying an additional 267,713 shares during the period. Jane Street Group LLC lifted its position in 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. State Street Corp lifted its position in NovaGold Resources by 5.0% during the third quarter. State Street Corp now owns 4,321,172 shares of the mining company’s stock worth $17,717,000 after buying an additional 206,610 shares during the period. Finally, Wellington Management Group LLP lifted its position in NovaGold Resources by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,146,787 shares of the mining company’s stock worth $4,702,000 after buying an additional 195,117 shares during the period. 57.56% of the stock is currently owned by hedge funds and other institutional investors.

NovaGold Resources Stock Down 2.2 %

Shares of NG opened at $3.15 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -24.23 and a beta of 1.06. NovaGold Resources Inc. has a one year low of $2.22 and a one year high of $4.88.

Wall Street Analyst Weigh In

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

NovaGold Resources Company 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.