Check out this: Novagold Resources Inc. (NG) could be on the verge of a big rally

Novagold Resources Inc. (AMEX: NG) is -34.49% lower on its value in year-to-date trading and has touched a low of $2.22 and a high of $6.68 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 $2.37 in the last trading session, with the day’s gains setting it 0.08%.

Currently trading at $2.45, the stock is -17.96% and -29.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.96 million and changing 3.38% at the moment leaves the stock -40.94% off its SMA200. NG registered -59.84% loss for a year compared to 6-month loss of -42.89%. The firm has a 200-day simple moving average (SMA200) of -$24.75.

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The stock witnessed a -31.37% gain in the last 1 month and extending the period to 3 months gives it a -31.94%, and is -2.00% 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 6.36% over the week and 5.90% over the month.

Distance from 52-week low is 10.11% and -63.32% from its 52-week high. The company has generated returns on investments over the last 12 months (-40.32%).

Novagold Resources Inc. quarterly earnings per share for the current quarter are estimated at -$0.02.The EPS is expected to grow by 42.86% this year.

Novagold Resources Inc. (NG) Top Institutional Holders

250 institutions hold shares in Novagold Resources Inc. (NG), with institutional investors hold 78.78% of the company’s shares. The shares outstanding are 334.25M, and float is at 229.21M with Short Float at 4.04%. Institutions hold 57.88% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 24.09 million shares valued at $96.14 million. The investor’s holdings represent 7.21% of the NG Shares outstanding. As of Jun 29, 2023, the second largest holder is Paulson & Company, Inc. with 22.23 million shares valued at $88.68 million to account for 6.65% of the shares outstanding. The other top investors are First Eagle Investment Management, LLC which holds 18.67 million shares representing 5.59% and valued at over $74.48 million, while Public Investment Fund holds 4.83% of the shares totaling 16.14 million with a market value of $64.39 million.

Novagold Resources Inc. (NG) Insider Activity

The most recent transaction is an insider sale by Lang Gregory A. ,the company’sPresident and CEO. SEC filings show that Lang Gregory A. sold 42,519 shares of the company’s common stock on Nov 30 at a price of $4.16 per share for a total of $0.18 million. Following the sale, the insider now owns 9635.0 shares.

Novagold Resources Inc. disclosed in a document filed with the SEC on Nov 30 that MADHAVPEDDI KALIDAS V (Director) sold a total of 10,947 shares of the company’s common stock. The trade occurred on Nov 30 and was made at $4.17 per share for $45649.0. Following the transaction, the insider now directly holds 49875.0 shares of the NG stock.

Still, SEC filings show that on Nov 29, Lang Gregory A. (President and CEO) disposed off 46,335 shares at an average price of $4.21 for $0.2 million. The insider now directly holds 9,635 shares of Novagold Resources Inc. (NG).

Novagold Resources Inc. (NG): Who are the competitors?

The company’s main competitors (and peers) include Barrick Gold Corp. (GOLD) that is trading -18.18% down over the past 12 months. Seabridge Gold Inc. (SA) that is -16.41% lower over the same period.