As of Friday close, NovaGold Resources Inc.’s (AMEX:NG) stock was down -$0.05, moving down -1.21 percent to $4.08. The average number of shares traded per day over the past five days has been 828,160 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.28 fall in that time frame. In the last twenty days, the average volume was 773,815, while in the previous 50 days, it was 1,228,488.
Since last month, NG stock retreated -9.13%. Shares of the company fell to $4.05 on 08/18/23, the lowest level in the past month. A 52-week high of $6.98 was reached on 01/26/23 after having rallying from a 52-week low of $3.84. Since the beginning of this year, NG’s stock price has dropped by -31.77% or -$1.90, and marked a new high 9 times. However, the stock has declined by -41.55% since its 52-week high.
NG stock investors should be aware that NovaGold Resources Inc. (NG) stock had its last reported insider trading activity 108 days ago on May 03. GARRETT DIANE R, the Director of the company, disposed of 14,950 shares for $5.58 on May 03. It resulted in a $83,421 divestment by the insider. Dowdall Sharon sold 39,799 shares at an average price of $6.41 on Apr 13. The insider now owns 45,519 shares following the transaction. On Jan 31, Director Walsh Anthony P. sold 12,479 shares at $6.27 apiece. The transaction was valued at $78,243.
Financial Health
In the three months ended May 30, NovaGold Resources Inc.’s quick ratio stood at 40.80, while its current ratio was 40.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending May 30 was 14.75, and the total debt-to-equity ratio was 14.75. Based on annual data, NG earned $7.96 million in gross profit and brought in $48.27 million in revenue.
In NovaGold Resources Inc.’s quarter-end financial report for May 30, it reported total debt of -$921.0 million against cash and short-term investments of $43.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NG’s revenue rose 100.0% during the quarter, while net income inched up to $21.66 billion. While analysts expected NovaGold Resources Inc. to report -$0.02 quarterly earnings, the actual figure was -$0.04 per share. During the quarter, the company generated -$13.08 million in EBITDA. The liabilities of NovaGold Resources Inc. were 134.06 million at the end of its most recent quarter ended May 30, and its total debt was $130.73 million. The value of shareholders’ equity is $334.13 million.
Technical Picture
This quick technical analysis looks at NovaGold Resources Inc.’s (NG) price momentum. With a historical volatility rate of 27.50%, the RSI 9-day stood at 36.21% on 18 August.
With respect to its five-day moving average, the current NovaGold Resources Inc. price is down by -6.42% percent or -$0.28. At present, NG shares trade -7.69% below its 20-day simple moving average and -31.31% percent below its 100-day simple moving average. However, the stock is currently trading approximately -23.45% below its SMA50 and -11.88% below its SMA200.
Stochastic coefficient K was 8.81% and Stochastic coefficient D was 11.24%, while ATR was 0.14. Given the Stochastic reading of 8.80% for the 14-day period, the RSI (14) reading has been calculated as 38.78%. As of today, the MACD Oscillator reading stands at -0.11, while the 14-day reading stands at -0.16.
Analyst Ratings
National Bank Financial launched its rating on NovaGold Resources Inc. (AMEX: NG) to an Outperform in a note to investors on July 20, 2022. NovaGold Resources Inc. (NG) has been rated Buy by analysts. According to 0 brokerage firms, NG is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate NovaGold Resources Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $8.61, the current consensus forecast for the stock is $7.21 – $10.00. Based on these forecasts, analysts predict NovaGold Resources Inc. (NG) will achieve an average price target of $8.61.
