What NovaGold Resources Inc. (NG) Insiders Are Up To

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NovaGold Resources Inc. (AMEX:NG) finished Wednesday with an addition of $0.01 to close at $4.43, an upside of 0.23 percent. An average of 1,973,020 shares of common stock have been traded in the last five days. There was a fall of -$0.02 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 1,295,495 shares traded, while the 50-day average volume stands at 1,177,656.

NG stock has decreased by -8.66% in the last month. The company shares reached their 1-month lowest point of $4.06 on 09/01/22. With the stock rallying to its 52-week high on 04/18/22, shares of the company touched a low of $4.06 and a high of $8.36 in 52 weeks. It has reached a new high 13 times so far this year and lost -35.42% or -$2.43 in price. In spite of this, the price is down -47.01% from the 52-week high.


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Insider Transactions

161 days have passed since NovaGold Resources Inc. (NG) last reported insider trading activity. Lang Gregory A., who is President and CEO, most recently acquired $54,280 shares at $8.15 per share on Apr 14. In this transaction, the insider spent $442,382. President and CEO, Lang Gregory A., disposed of 51,104 shares at a price of $7.67 on Mar 11. The insider now owns more than $391,968 worth of shares. Prior to that, Director Walsh Anthony P. went on to Sale 22,406 shares at $7.10 each on Feb 23. An amount of $159,083 was transacted.

Valuation Metrics

NovaGold Resources Inc. (NG) stock’s beta is 0.57. Other valuation ratios to consider include the price-to-book (PB) ratio at 20.14.

Financial Health

The quick ratio of NovaGold Resources Inc. for the three months ended May 30 was 51.90, and the current ratio was 51.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.14 and a total debt to equity ratio of 2.14 for the quarter ending May 30. Its gross profit as reported stood at $5.92 million compared to revenue of $36.84 million.

Earnings Surprise

For the three-month period that ended May 30, NovaGold Resources Inc. had $70.0 million in cash and short-term investments compared to $118.92 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.35 billion in the quarter, while revenues were grew 100.0%. The analyst consensus anticipated NovaGold Resources Inc.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.04, a -33.30% surprise. For the quarter, EBITDA amounted to -$13.81 million. Shareholders own equity worth $333.34 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at NovaGold Resources Inc. (NG) price momentum. RSI 9-day as of the close on 21 September was 44.45%, suggesting the stock is Neutral, with historical volatility in this time frame at 45.87%.

As of today, NG’s price is $4.46 -0.45% or -$0.02 from its 5-day moving average. NG is currently trading -11.58% lower than its 20-day SMA and -31.74% lower than its 100-day SMA. However, the stock’s current price level is -0.23% below the SMA50 and -32.88% below the SMA200.

The stochastic %K and %D were 60.31% and 58.04%, respectively, and the average true range (ATR) was 0.22. With the 14-day stochastic at 52.30% and the average true range at 0.22, the RSI (14) stands at 44.62%. The stock has reached -0.02 on the 9-day MACD Oscillator while the 14-day reading was at 0.04.

Analyst Ratings

National Bank Financial launched coverage on NovaGold Resources Inc. (AMEX: NG) in its analyst report released on July 20, 2022. The firm assigned the stock an Outperform rating. The consensus rating for NovaGold Resources Inc. (NG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NG, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is NG’s price target for the next 12 months?

Analysts predict a range of price targets between $6.98 and $28.00, with a median target of $9.50. Taking a look at these predictions, the average price target given by analysts for NovaGold Resources Inc. (NG) stock is $13.49.

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