NovaGold Resources Inc. (AMEX:NG) currently has a daily average trading volume of 1.07M but it saw 2092527 shares traded on Thursday. With a market cap of 1.75B USD, stock’s current market price of $5.26 came falling about -2.05 while comparing to the previous closing price of $5.37. In past 52 weeks, the stock remained buoying in the range of price level as high as $6.98 and as low as $4.06. In the recent trading on the day, stock has struck highest price mark of $5.40 while lowest mark touched by it was $5.21.
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Taking a look at 20-day trading activity of NovaGold Resources Inc. (NG) gives us an average price of $5.46, while its current price level is -24.64% below from 52-week high level whereas it is 29.56% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $5.73 while that of 200 days or SMA-200 reads an average of $5.50. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.17% during that period while stretching the period over a month that decreases to 2.89%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 38.96 which implies that the stock is in neutral territory.
NovaGold Resources Inc. (NG)’s stock is currently under the radar of 3 analysts who are in consensus at a 12-month price target range of between $7.00 and $10.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $7.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $10.00. Average price target assigned by them is $8.35 which highlights an upside potential of 37.01% for the stock over that period. And to attain the median price target of $8.04 assigned by those analysts, stock has to add about 34.58% of value to its current levels.
Data by FactSet Research shows that 3 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 2 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, NG’s stock price is moving -1.50% down while it is -2.95% when we observe its performance for the past one month. Year-to-date it is -12.04% down and over the past year, the stock is showing a downside performance of -9.78%.
The latest quarterly earnings report issued by the company was for quarter ended 2/27/2023, when its quarterly earnings per share (EPS) of -$0.03 beaten by the consensus estimate of -$0.02 for the same. The company is expected to be releasing its next quarterly report in 06/27/2023, for which analysts forecasted an EPS of -$0.02 while estimate for next year EPS is -$0.08. For NG, analysts are forecasting an EPS-growth rate of 50.00% for current year and estimate for EPS growth in next year is -75.00%.
Currently, NovaGold Resources Inc.’s total number of outstanding shares is 333.95M with 26.52% of that held by the insiders while 58.43% of its common stock has been owned by the institutions. Stock’s beta reads 0.85. Stock has a price to book (P/B) ratio of 87.67.
A filing at the U.S. Securities and Exchange Commission revealed that First Eagle Gold Fund came shrinking its share ownership by -0.50% in the NovaGold Resources Inc. (NG) decreasing its stake to 5.37% with control over 90522.0 shares in the company. In the most recent quarter, Fidelity Contrafund came cutting its stake by -0.49% in the company and now holds 7.0 million or 2.10% of the company’s stake having worth of about 38.11 million.
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