288 institutions hold shares in NovaGold Resources Inc. (NG), with 87.86M shares held by insiders accounting for 26.52% while institutional investors hold 74.27% of the company’s shares. The shares outstanding are 331.30M, and float is at 242.79M with Short Float at 3.21%. Institutions hold 54.58% of the Float.
The top institutional shareholder in the company is FMR, LLC with over 24.7 million shares valued at $238.85 million. The investor’s holdings represent 7.45% of the NG Shares outstanding. As of Dec 30, 2020, the second largest holder is Paulson & Company, Inc. with 22.23 million shares valued at $214.93 million to account for 6.71% of the shares outstanding. The other top investors are Public Investment Fund which holds 16.14 million shares representing 4.87% and valued at over $156.05 million, while Blackrock Inc. holds 4.20% of the shares totaling 13.9 million with a market value of $134.44 million.
NovaGold Resources Inc. (AMEX: NG) is -2.38% lower on its value in year-to-date trading and has touched a low of $7.89 and a high of $12.15 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NG stock was last observed hovering at around $9.22 in the last trading session, with the day’s gains setting it 0.22% off its average median price target of $30.00 for the next 12 months. It is also 68.53% off the consensus price target high of $30.00 offered by 1 analysts, but current levels are 68.53% higher than the price target low of $30.00 for the same period.
Currently trading at $9.44, the stock is 0.77% and 4.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.75 million and changing 2.39% at the moment leaves the stock -3.77% off its SMA200. NG registered -20.07% loss for a year compared to 6-month loss of -11.53%. The firm has a 50-day simple moving average (SMA 50) of $9.21 and a 200-day simple moving average (SMA200) of $9.73.
The stock witnessed a 3.40% gain in the last 1 month and extending the period to 3 months gives it a 9.39%, and is -4.16% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.24% over the week and 3.31% over the month.
Distance from 52-week low is 19.65% and -22.30% from its 52-week high.
NovaGold Resources Inc. (NG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for NovaGold Resources Inc. (NG) is a “Buy”. 1 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
NovaGold Resources Inc. is expected to release its quarterly report on 06/30/2021 and quarterly earnings per share for the current quarter are estimated at -$0.01.The EPS is expected to shrink by -19.60% this year.
NovaGold Resources Inc. (NG) Insider Activity
A total of 40 insider transactions have happened at NovaGold Resources Inc. (NG) in the last six months, with sales accounting for 12 and purchases happening 28 times. The most recent transaction is an insider sale by Walsh Anthony P., the company’s Director. SEC filings show that Walsh Anthony P. sold 19,655 shares of the company’s common stock on Apr 06 at a price of $9.33 per share for a total of $0.18 million. Following the sale, the insider now owns 35934.0 shares.
NovaGold Resources Inc. disclosed in a document filed with the SEC on Dec 08 that Lang Gregory A. (President and CEO) sold a total of 123,071 shares of the company’s common stock. The trade occurred on Dec 08 and was made at $10.40 per share for $1.28 million. Following the transaction, the insider now directly holds 1.98 million shares of the NG stock.
Still, SEC filings show that on Dec 07, Ottewell David A. (Vice President & CFO) disposed off 167,308 shares at an average price of $10.49 for $1.76 million. The insider now directly holds 711,103 shares of NovaGold Resources Inc. (NG).
NovaGold Resources Inc. (NG): Who are the competitors?
The company’s main competitors (and peers) include Barrick Gold Corporation (GOLD) that is trading -19.29% down over the past 12 months. Teck Resources Limited (TECK) is 175.83% up on the 1-year trading charts. Short interest in the company’s stock has risen 12.26% from the last report on Apr 14, 2021 to stand at a total of 7.8 million short shares sold with a short interest ratio of 7.15.