Why Novagold Resources Inc (NG) Stock Could See Much Higher Prices Ahead

Novagold Resources Inc (AMEX: NG) is 26.43% higher on its value in year-to-date trading and has touched a low of $2.26 and a high of $5.06 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NG stock was last observed hovering at around $4.12 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $4.21, the stock is 15.50% and 26.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.04 million and changing 2.18% at the moment leaves the stock 15.82% off its SMA200. NG registered 40.33% gain for a year compared to 6-month loss of 21.68%.

The stock witnessed a 61.30% gain in the last 1 month and extending the period to 3 months gives it a 30.75%, and is -2.77% 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 5.52% over the week and 10.06% over the month.

Novagold Resources Inc (NG) has around 14 employees, a market worth around $1.41B and $0.00M in sales. Distance from 52-week low is 86.28% and -16.80% from its 52-week high. The company has generated returns on investments over the last 12 months (-44.56%).

The EPS is expected to grow by 3.57% this year.

Novagold Resources Inc (NG) Top Institutional Holders

The shares outstanding are 334.65M, and float is at 245.44M with Short Float at 3.39%.

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.