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NovaGold Resources Inc. (AMEX:NG) Stock Has Fallen -21.72% YTD, What Do Analysts Anticipate Next?

In last trading session, NovaGold Resources Inc. (AMEX:NG) saw 1.18 million shares changing hands with its beta currently measuring 0.44. Company’s recent…

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This article was originally published by The Marketing Sentinal

In last trading session, NovaGold Resources Inc. (AMEX:NG) saw 1.18 million shares changing hands with its beta currently measuring 0.44. Company’s recent per share price level of $5.37 trading at -$0.06 or -1.10% at ring of the bell on the day assigns it a market valuation of $2.18B. That closing price of NG’s stock is at a discount of -64.62% from its 52-week high price of $8.84 and is indicating a premium of 2.79% from its 52-week low price of $5.22. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.18 million shares which gives us an average trading volume of 1.76 million if we extend that period to 3-months.

For NovaGold Resources Inc. (NG), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.70. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.03 in the current quarter.

NovaGold Resources Inc. (AMEX:NG) trade information

Upright in the red during last session for losing -1.10%, in the last five days NG remained trading in the red while hitting it’s week-highest on Friday, 06/24/22 when the stock touched $5.37 price level, adding 8.36% to its value on the day. NovaGold Resources Inc.’s shares saw a change of -21.72% in year-to-date performance and have moved -2.54% in past 5-day. NovaGold Resources Inc. (AMEX:NG) showed a performance of -6.77% in past 30-days. Number of shares sold short was 8.5 million shares which calculate 5.41 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $15.67 to the stock, which implies a rise of 65.73% to its current value. Analysts have been projecting $9.00 as a low price target for the stock while placing it at a high target of $28.00. It follows that stock’s current price would drop -421.42% in reaching the projected high whereas dropping to the targeted low would mean a loss of -67.6% for stock’s current value.

NovaGold Resources Inc. (NG) estimates and forecasts

Statistics highlight that NovaGold Resources Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -21.61% of value to its shares in past 6 months, showing an annual growth rate of 16.67% while that of industry is 12.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -3.60% during past 5 years.

NG Dividends

NovaGold Resources Inc. is more likely to be releasing its next quarterly report between March 29 and April 04 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

NovaGold Resources Inc. (AMEX:NG)’s Major holders

Insiders are in possession of 26.52% of company’s total shares while institution are holding 54.03 percent of that, with stock having share float percentage of 73.52%. Investors also watch the number of corporate investors in a company very closely, which is 54.03% institutions for NovaGold Resources Inc. that are currently holding shares of the company. FMR, LLC is the top institutional holder at NG for having 24.14 million shares of worth $165.61 million. And as of Dec 30, 2021, it was holding 7.25% of the company’s outstanding shares.

The second largest institutional holder is Paulson & Company, Inc., which was holding about 22.23 million shares on Dec 30, 2021. The number of shares represents firm’s hold over 6.67% of outstanding shares, having a total worth of $152.47 million.

On the other hand, First Eagle Gold Fund and VanEck ETF Trust-VanEck Junior Gold Miners ETF are the top two Mutual Funds which own company’s shares. As of Jan 30, 2022, the former fund manager was holding 12.09 million shares of worth $79.81 million or 3.63% of the total outstanding shares. The later fund manager was in possession of 10.26 million shares on Feb 27, 2022, making its stake of worth around $71.63 million in the company or a holder of 3.08% of company’s stock.

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