NovaGold Resources Inc. (AMEX:NG) saw an upside of 4.36% to $4.18 after adding $0.17on Wednesday. The 5-day average trading volume is 837,134 shares of the company’s common stock. It has gained $4.21 in the past week and touched a new high 2 times within the past 5 days. An average of 801,553 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,215,733.
NG’s 1-month performance is -6.38% or -$0.22 on its low of $3.93 reached on 08/21/23. The company’s shares have touched a 52-week low of $3.84 and high of $6.98, with the stock’s rally to the 52-week high happening on 01/26/23. YTD, NG has lost -30.02% or -$1.78 and has reached a new high 9 times. However, the current price is down -40.04% from the 52-week high price.
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Insider Transactions
NG stock investors last saw insider trading activity on May 03.GARRETT DIANE R (Director) most recently sold 14,950 shares at $5.58 per share on May 03. This transaction cost the insider $83,421. Director, Dowdall Sharon, sold 39,799 shares at a price of $6.41 on Apr 13. Then, on Jan 31, Director Walsh Anthony P. sold 12,479 shares at a price of $6.27 per share. This transaction amounted to $78,243.
Valuation Metrics
NG stock has a beta of 0.83. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 104.62.
NovaGold Resources Inc.’s quick ratio for the period ended May 30 was 40.80, with the current ratio over the same period at 40.80. As well, the company’s long term debt to equity for the quarter ending May 30 was 14.78, while the total debt to equity was 14.78. The firm’s gross profit as reported stood at $7.96 million against revenue of $48.27 million.
Earnings Surprise
For the quarterly period ending May 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.14% to $7.8 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected NG to announce -$0.02 per share in earnings in its latest quarter, but it posted -$0.04, representing a -100.00% surprise. EBITDA for the quarter stood at more than -$13.08 million. NG stock balance sheet for the quarter ending May 30 shows that total liabilities totaled 134.06 million, with total debt at $130.73 million. Shareholders hold equity totaling $334.13 million.
Let’s look briefly at NovaGold Resources Inc. (NG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 49.65% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.05%.
The stock’s 5-day moving average is $4.09, reflecting a +3.33% or $0.14 change from its current price. NG is currently trading -5.94% above its 20-day SMA, -32.99% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.75% and SMA200 by-4.66%.
Stochastic %K and %D was 31.63% and 21.50% and the average true range (ATR) pointed at 0.15. The RSI (14) points at 46.57%, while the 14-day stochastic is at 54.08% with the period’s ATR at 0.15. The stock’s 9-day MACD Oscillator is pointing at -0.05 and -0.11 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for NovaGold Resources Inc. (AMEX: NG), National Bank Financial launched coverage with an Outperform rating. Analysts offering their rating for NG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate NG as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is NG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.21 and a high of $10.00, with their median price target at $8.61. Looking at these predictions, the average price target given by analysts is for NovaGold Resources Inc. (NG) stock is $8.61.
