These Numbers Show Favorable Signs for Novagold Resources Inc. (NG)

Novagold Resources Inc. (AMEX: NG) is -38.29% lower on its value in year-to-date trading and has touched a low of $3.25 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 $3.58 in the last trading session, with the day’s gains setting it 0.11% off its average median price target of $9.00 for the next 12 months. It is also 72.46% off the consensus price target high of $13.40 offered by 3 analysts, but current levels are 55.11% higher than the price target low of $8.22 for the same period.

Currently trading at $3.69, the stock is -4.48% and -2.42% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.45 million and changing 3.07% at the moment leaves the stock -19.27% off its SMA200. NG registered -40.00% loss for a year compared to 6-month loss of -19.96%. The firm has a 200-day simple moving average (SMA200) of -$34.01.

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The stock witnessed a -5.63% gain in the last 1 month and extending the period to 3 months gives it a -13.58%, and is 7.27% 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 3.90% over the week and 5.08% over the month.

Novagold Resources Inc. (NG) has around 13 employees, a market worth around $1.23B and $0.00M in sales. Distance from 52-week low is 13.54% and -47.13% from its 52-week high. The company has generated returns on investments over the last 12 months (-93.04%).

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 1.67, 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 04/02/2024.The EPS is expected to grow by 34.38% this year.

Novagold Resources Inc. (NG) Top Institutional Holders

The shares outstanding are 333.75M, and float is at 228.73M with Short Float at 3.46%.

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 4.43% up over the past 12 months. Seabridge Gold Inc. (SA) that is 2.61% higher over the same period.