In the latest trading session, 0.51 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 $3.40 changing hands around $0.03 or 1.04% at last look, the market valuation stands at $1.14B. NG’s current price is a discount, trading about -43.53% off its 52-week high of $4.88. The share price had its 52-week low at $2.56, which suggests the last value was 24.71% up since then. When we look at Novagold Resources Inc’s average trading volume, we note the 10-day average is 2.64 million shares, with the 3-month average coming to 2.03 million.
Analysts gave the Novagold Resources Inc (NG) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.33. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended NG as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Novagold Resources Inc’s EPS for the current quarter is expected to be -0.06.
Novagold Resources Inc (AMEX:NG) trade information
Instantly NG is in green as seen in intraday trades today. With action 3.81%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 2.25%, with the 5-day performance at 3.81% in the green. However, in the 30-day time frame, Novagold Resources Inc (AMEX:NG) is 8.10% up. Looking at the short shares, we see there were 8.31 million shares sold at short interest cover period of 4.13 days.
The consensus price target for the stock as assigned by Wall Street analysts is 5.25, meaning bulls need an upside of 35.24% from its recent market value. According to analyst projections, NG’s forecast low is 5.25 with 5.25 as the target high. To hit the forecast high, the stock’s price needs a -54.41% plunge from its current level, while the stock would need to soar -54.41% for it to hit the projected low.
Novagold Resources Inc (NG) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.87%. The 2025 estimates are for Novagold Resources Inc earnings to decrease by -14.29%, but the outlook for the next 5-year period is at -10.72% per year.
Novagold Resources Inc (AMEX:NG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 26.49% of Novagold Resources Inc shares while 59.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.58%. There are 59.97% institutions holding the Novagold Resources Inc stock share, with PAULSON & CO. INC. the top institutional holder. As of 2024-06-30, the company held 8.1458% of the shares, roughly 27.24 million NG shares worth $94.24 million.
FIRST EAGLE INVESTMENT MANAGEMENT, LLC holds the second largest percentage of outstanding shares, with 6.4255% or 21.49 million shares worth $74.34 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were First Eagle Gold Fund and iShares Russell 2000 ETF. With 25.38 shares estimated at $86.56 million under it, the former controlled 7.59% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.94% of the shares, roughly 6.5 shares worth around $22.16 million.
