A share price of Novagold Resources Inc. [NG] is currently trading at $2.52, up 1.20%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The NG shares have gain 6.33% over the last week, with a monthly amount glided 0.80%, and seem to be holding up well over a long-time horizon.
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On 24, January 2024, NOVAGOLD Reports Fiscal Year 2023 Financial Results. In a post published today on Yahoo Finance, Completion of 2023 Fieldwork, Permits Maintained, and Continuous Work at Donlin Gold that Enhances the Project’s Value and Visibility.
From an analyst’s perspective:
On December 19, 2017, B. Riley FBR Inc. initiated with a Buy rating and assigned a price target of $7 on the stock. JP Morgan upgraded its rating to a Overweight. RBC Capital Mkts reiterated its recommendation of a Sector Perform and reduced its price target to $11 on October 17, 2011. RBC Capital Mkts upgraded its rating to Sector Perform for this stock on January 21, 2011, and upped its price target to $16. In a note dated October 20, 2010, RBC Capital Mkts reiterated an Underperform rating on this stock and boosted its target price from $7.50 to $9.
Novagold Resources Inc. experienced fluctuations in its stock price throughout the past year between $2.22 and $6.68. Currently, Wall Street analysts expect the stock to reach $5.25 within the next 12 months. Novagold Resources Inc. [AMEX: NG] shares were valued at $2.52 at the most recent close of the market. An investor can expect a potential return of 108.33% based on the average NG price forecast.
Analyzing the NG fundamentals
To continue investigating profitability, this company’s Return on Assets is posted at -0.39, Equity is -9.41 and Total Capital is -0.31. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -16.73.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.46 points at the first support level, and at 2.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.60, and for the 2nd resistance point, it is at 2.67.
Novagold Resources Inc. [NG] reported earnings per share of -$0.03 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.02/share, meaning a difference of -$0.01 and a surprise factor of -50.00%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were -$0.03 per share as compared to estimates of -$0.02 per share, a difference of -$0.01 representing a surprise of -50.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Novagold Resources Inc. [AMEX:NG] is 32.57. Further, the Quick Ratio stands at 32.57, while the Cash Ratio is 11.71.
Transactions by insiders
Recent insider trading involved Lang Gregory A., President and CEO, that happened on Nov 30 when 42519.0 shares were sold. Director, MADHAVPEDDI KALIDAS V completed a deal on Nov 30 to sell 10947.0 shares. Meanwhile, President and CEO Lang Gregory A. sold 46335.0 shares on Nov 29.
