The stock of NovaGold Resources Inc. (AMEX:NG) increased by $0.07 on Tuesday to at $4.32, up 1.76 percent. The last five days have seen an average of 889,621 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$1.67. The average number of shares traded over the last 20 days was 817,560, while the average volume over the last 50 days totaled 1,167,644.
NG stock dropped -4.10% since last month. On 08/21/23, the company’s shares reached a one-month low of $3.93. The stock touched a high of $6.98 on 01/26/23, after rallying from a low of $3.84 in 52 weeks. The price of NG stock has declined by -27.68% or -$1.67 this year, reaching a new high 9 times. Still, the stock price is down -38.04% from the 52-week high.
Insider Transactions
NG stock investors should be aware that NovaGold Resources Inc. (NG) stock had its last reported insider trading activity 118 days ago on May 03. On May 03, Director GARRETT DIANE R sold 14,950 shares at $5.58 each. This transaction resulted in the insider making $83,421. On Apr 13, Dowdall Sharon sold 39,799 shares at a price of US$6.41. After the transaction, the insider now owns 45,519 shares. Director Walsh Anthony P. had earlier sold 12,479 shares on Jan 31 for $6.27 a share. The transaction was completed for $78,243.
Financial Health
For the three months ended May 30, NovaGold Resources Inc.’s quick ratio was 40.80, while its current ratio was 40.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending May 30 is 14.75, and the total debt to equity ratio is 14.75. Based on annual data, it had gross profit of $7.96 million and revenue of $48.27 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NG’s return on assets (ROA) during the last 12 months has been -34.60%. In the meantime, the return on equity (ROE) for the last 12 months was -212.90%.
Earnings Surprise
According to NovaGold Resources Inc.’s quarterly financial report for the quarter that ended May 30. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $21.66 billion, while revenues rose by 100.0% to $0.0. It was predicted that NovaGold Resources Inc.’s quarterly earnings would be -$0.04, but it ended up being -$0.02. EBITDA was -$13.08 million for the quarter. At the end of NovaGold Resources Inc.’s most recent quarter ended May 30, its liabilities totaled 134.06 million, while its total debt was $130.73 million. Equity owned by shareholders amounts to $334.13 million.
Technical Picture
Here’s a quick look at NovaGold Resources Inc.’s (NG) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 58.03%, suggesting the stock is Neutral, with a 43.46% historical volatility rate.
The stochastic %K and %D were 57.67% and 44.73% respectively, while the average true range (ATR) was 0.17. Based on the 14-day stochastic reading of 86.66%, the RSI (14) reading is 52.93%. On the 9-day MACD Oscillator, the stock is at 0.06, and the 14-day reading is at 0.03.
Analyst Ratings
In its analyst report released on July 20, 2022, National Bank Financial began covering NovaGold Resources Inc. (AMEX: NG). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned NovaGold Resources Inc. (NG) an Buy rating. NG is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is NG’s price target for the next 12 months?
The current consensus forecast for the stock is between $7.21 and $10.00, with a median target price of $8.61. In analyzing these forecasts, the average price target given by analysts for NovaGold Resources Inc. (NG) is $8.61.
