Novagold Resources Inc (NG) Stock Could Soon Reward Patient Investors

Novagold Resources Inc (AMEX: NG) is -2.10% lower on its value in year-to-date trading and has touched a low of $2.22 and a high of $4.88 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 $3.17 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $3.26, the stock is 2.02% and -2.49% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.14 million and changing 2.84% at the moment leaves the stock -11.65% off its SMA200. NG registered 42.98% gain for a year compared to 6-month loss of -21.45%. The firm has a 50-day simple moving average (SMA 50) of $3.3492 and a 200-day simple moving average (SMA200) of $3.68815.

The stock witnessed a -3.26% gain in the last 1 month and extending the period to 3 months gives it a -4.40%, and is 1.87% 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 5.34% over the week and 5.05% over the month.

Novagold Resources Inc (NG) has around 14 employees, a market worth around $1.09B and $0.00M in sales. Distance from 52-week low is 46.52% and -33.20% from its 52-week high. The company has generated returns on investments over the last 12 months (-43.50%).

The EPS is expected to shrink by -14.29% this year.

Novagold Resources Inc (NG) Top Institutional Holders

The shares outstanding are 334.57M, and float is at 244.15M with Short Float at 3.70%.

The top institutional shareholder in the company is PAULSON & CO. INC. with over 27.24 million shares valued at $94.24 million. The investor’s holdings represent 8.1458% of the NG Shares outstanding. As of 2024-06-30, the second largest holder is FIRST EAGLE INVESTMENT MANAGEMENT, LLC with 21.49 million shares valued at $74.34 million to account for 6.4255 of the shares outstanding. The other top investors are EXOR CAPITAL LLP which holds 19.43 million shares representing 5.8102% and valued at over $67.22 million, while FMR LLC holds 5.1525 of the shares totaling 17.23 million with a market value of $60.32 million.