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

Virtu Financial LLC acquired a new position in shares of NovaGold Resources Inc. (NYSEAMERICAN:NG) (TSE:NG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 75,195 shares of the mining company’s stock, valued at approximately $308,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in NovaGold Resources by 59.6% in the 2nd quarter. SG Americas Securities LLC now owns 165,952 shares of the mining company’s stock valued at $574,000 after acquiring an additional 61,982 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NovaGold Resources by 24.0% in 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 purchasing an additional 173,817 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $225,000 after buying an additional 8,441 shares during the period. CIBC Asset Management Inc lifted its holdings 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 worth $1,064,000 after buying an additional 26,984 shares in the last quarter. Finally, Rhumbline Advisers boosted its position 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 period. Institutional investors and hedge funds own 57.56% of the company’s stock.

Analysts Set New Price Targets

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

NovaGold Resources Price Performance

Shares of 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 stock has a market capitalization of $1.14 billion, a PE ratio of -26.31 and a beta of 1.07.

NovaGold Resources (NYSEAMERICAN:NG) (TSE:NG) last posted its quarterly earnings results on Wednesday, October 2nd. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

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.