In the latest trading session,, 0.84 million Novagold Resources Inc. (AMEX:NG) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $2.70 changing hands around $0.13 or 5.06% at last look, the market valuation stands at $902.80M. NG’s current price is a discount, trading about -147.41% off its 52-week high of $6.68. The share price had its 52-week low at $2.22, which suggests the last value was 17.78% up since then. When we look at Novagold Resources Inc.’s average trading volume, we note the 10-day average is 2.17 million shares, with the 3-month average coming to 2.40 million.
Novagold Resources Inc. (AMEX:NG) trade information
Instantly NG is in green as seen in intraday trades today. With action 3.05%, the performance over the past five days has been green. The jump to weekly highs of 2.87 added 5.06% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.81%, with the 5-day performance at 3.05% in the green. However, in the 30-day time frame, Novagold Resources Inc. (AMEX:NG) is 14.41% up. Looking at the short shares, we see there were 10.07 million shares sold at short interest cover period of 4.28 days.
Novagold Resources Inc. (NG) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Novagold Resources Inc. will rise 33.30%, while the growth in revenue is estimated to hit 50.00% for the next quarter.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -6.70%. The 2024 estimates are for Novagold Resources Inc. earnings to increase by 42.86%.
NG Dividends
Novagold Resources Inc. is expected to release its next quarterly earnings report on April 03.
Novagold Resources Inc. (AMEX:NG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 26.53% of Novagold Resources Inc. shares while 58.35% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.42%. There are 58.35% institutions holding the Novagold Resources Inc. stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 7.21% of the shares, roughly 24.09 million NG shares worth $96.14 million.
Paulson & Company, Inc. holds the second largest percentage of outstanding shares, with 6.65% or 22.23 million shares worth $88.68 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were First Eagle Gold Fund and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 17.74 million shares estimated at $80.01 million under it, the former controlled 5.31% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 2.53% of the shares, roughly 8.46 million shares worth around $32.47 million.
