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NovaGold Resources Inc. (NG) Volatility At 2.85%, Should You Add A Position?

NovaGold Resources Inc. (AMEX: NG) is -10.20% lower on its value in year-to-date trading and has touched a low of $4.06 and a high of $6.98 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 $5.52 in the last trading session, with the day’s loss setting it -0.15% off its average median price target of $8.04 for the next 12 months. It is also 46.3% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 23.29% higher than the price target low of $7.00 for the same period.

Currently trading at $5.37, the stock is -1.82% and -6.55% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.66 million and changing -2.72% at the moment leaves the stock -2.30% off its SMA200. NG registered -5.46% loss for a year compared to 6-month gain of -0.56%. The firm has a 200-day simple moving average (SMA200) of -$40.69.

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The stock witnessed a -3.07% loss in the last 1 month and extending the period to 3 months gives it a -3.07%, and is -0.92% 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 2.85% over the week and 2.90% over the month.

Distance from 52-week low is 32.27% and -23.07% 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”. 3 analysts offering their recommendations for the stock have an average rating of 2.50, where 1 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 06/27/2023.The EPS is expected to grow by 50.00% this year

NovaGold Resources Inc. (NG) Top Institutional Holders

The shares outstanding are 333.95M, and float is at 244.94M with Short Float at 3.29%.

NovaGold Resources Inc. (NG) Insider Activity

A total of 136 insider transactions have happened at NovaGold Resources Inc. (NG) in the last six months, with sales accounting for 46 and purchases happening 90 times. The most recent transaction is an insider sale by GARRETT DIANE R, the company’s Director. SEC filings show that GARRETT DIANE R sold 14,950 shares of the company’s common stock on May 03 at a price of $5.58 per share for a total of $83421.0. Following the sale, the insider now owns 22757.0 shares.

NovaGold Resources Inc. disclosed in a document filed with the SEC on Apr 13 that Dowdall Sharon (Director) sold a total of 39,799 shares of the company’s common stock. The trade occurred on Apr 13 and was made at $6.41 per share for $0.26 million. Following the transaction, the insider now directly holds 45519.0 shares of the NG stock.

Still, SEC filings show that on Jan 31, Walsh Anthony P. (Director) disposed off 12,479 shares at an average price of $6.27 for $78243.0. The insider now directly holds 41,751 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 -14.45% down over the past 12 months and Seabridge Gold Inc. (SA) that is -5.82% lower over the same period. Teck Resources Limited (TECK) is -5.81% down on the 1-year trading charts.

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