NovaGold Resources Inc. (AMEX: NG) is -15.01% lower on its value in year-to-date trading and has touched a low of $4.06 and a high of $8.36 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 $5.61 in the last trading session, with the day’s gains setting it 0.22% off its average median price target of $7.62 for the next 12 months. It is also 41.7% off the consensus price target high of $10.00 offered by 4 analysts, but current levels are 16.71% higher than the price target low of $7.00 for the same period.
Currently trading at $5.83, the stock is 14.18% and 21.64% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.56 million and changing 3.92% at the moment leaves the stock 2.50% off its SMA200. NG registered -20.36% loss for a year compared to 6-month loss of 2.10%.
The stock witnessed a 23.78% gain in the last 1 month and extending the period to 3 months gives it a 11.26%, and is 8.36% up 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 3.31% over the week and 4.31% over the month.
Distance from 52-week low is 43.60% and -30.26% 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 “Overweight”. 4 analysts offering their recommendations for the stock have an average rating of 2.50, where 2 rate it as a Hold and 0 think it is a “Overweight”. 2 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 01/25/2023.The EPS is expected to shrink by -25.00% this year
NovaGold Resources Inc. (NG) Top Institutional Holders
The shares outstanding are 333.34M, and float is at 245.00M with Short Float at 3.84%.
NovaGold Resources Inc. (NG) Insider Activity
The most recent transaction is an insider sale by Lang Gregory A., the company’s President and CEO. SEC filings show that Lang Gregory A. sold 23,483 shares of the company’s common stock on Nov 22 at a price of $5.60 per share for a total of $0.13 million. Following the sale, the insider now owns 8295.0 shares.
NovaGold Resources Inc. disclosed in a document filed with the SEC on Nov 21 that Lang Gregory A. (President and CEO) sold a total of 21,626 shares of the company’s common stock. The trade occurred on Nov 21 and was made at $5.40 per share for $0.12 million. Following the transaction, the insider now directly holds 8295.0 shares of the NG stock.
Still, SEC filings show that on Nov 18, Lang Gregory A. (President and CEO) disposed off 27,639 shares at an average price of $5.32 for $0.15 million. The insider now directly holds 8,295 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 -14.91% down over the past 12 months and Seabridge Gold Inc. (SA) that is -34.33% lower over the same period. Teck Resources Limited (TECK) is 26.89% up on the 1-year trading charts.