In today’s recent session, 0.39 million shares of the Novagold Resources Inc (AMEX:NG) have been traded, and its beta is 1.09. Most recently the company’s share price was $3.08, and it changed around -$0.03 or -1.01% from the last close, which brings the market valuation of the company to $1.03B. NG at last check was trading at a discount to its 52-week high of $4.88, offering almost -58.44% off that amount. The share price’s 52-week low was $2.65, which indicates that the recent value has risen by an impressive 13.96% since then. We note from Novagold Resources Inc’s average daily trading volume that its 10-day average is 2.5 million shares, with the 3-month average coming to 2.10 million.
Novagold Resources Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended NG as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Novagold Resources Inc is expected to report earnings per share of -0.06 for the current quarter.
Novagold Resources Inc (AMEX:NG) trade information
Instantly NG has been showing red trend so far today with a performance of -1.01% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.50 on recent trading dayincreased the stock’s daily price by 12.0%. The company’s shares are currently down -7.55% year-to-date, but still down -9.99% over the last five days. On the other hand, Novagold Resources Inc (AMEX:NG) is 3.65% up in the 30-day period. We can see from the shorts that 8.47 million shares have been sold at a short interest cover period of 3.79 day(s).
The consensus price target as assigned by Wall Street analysts is $5.25, which translates to bulls needing to increase their stock price by 41.33% from its current value. Analyst projections state that NG is forecast to be at a low of $5.25 and a high of $5.25.
Novagold Resources Inc (NG) estimates and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.87%. Novagold Resources Inc earnings are expected to increase by -14.29% in 2025, but the outlook is negative -10.72% per year for the next five years.
Novagold Resources Inc (AMEX:NG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 26.49% of Novagold Resources Inc shares, and 59.97% of them are in the hands of institutional investors. The stock currently has a share float of 81.58%. Novagold Resources Inc stock is held by 250.0 institutions, with PAULSON & CO. INC. being the largest institutional investor. By 2024-06-30, it held 8.1458% of the shares, which is about 27.24 million shares worth $94.24 million.
FIRST EAGLE INVESTMENT MANAGEMENT, LLC, with 6.4255% or 21.49 million shares worth $74.34 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
First Eagle Gold Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Oct 31, 2024. The former held 25.38 shares worth $78.31 million, making up 7.59% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 6.54 shares worth around $20.19 million, which represents about 1.96% of the total shares outstanding.
