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NovaGold Resources Inc. (NG) Stock Behavior Isn’t As Predictable As You Think

NovaGold Resources Inc. (AMEX:NG) concluded the trading at $4.43 on Wednesday, September 21 with a rise of 0.23% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $4.42 and 5Y monthly beta was reading 0.55 with its price kept floating in the range of $4.34 and $4.60 on the day. Considering stock’s 52-week price range provides that NG hit a high price of $8.36 and saw its price falling to a low level of $4.06 during that period. Over a period of past 1-month, stock came subtracting -8.66% in its value.

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With its current market valuation of $1.93 billion, NovaGold Resources Inc. is set to declare its quarterly results on Mar 29, 2022 – Apr 04, 2022. Analysts are in estimates of -$0.03 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.13 for 2022 with estimates of that growing to -$0.11 in next year. These estimates are suggesting current year growth of -8.30% for EPS and 15.40% growth next year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review NG stock’s current outlook then short term indicators are assigning it an average of 100% Sell, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 100% Sell for it.

Digging deeper we become aware of the PEG ratio of the NG stock which is currently positioned at 0. It further provides that stock’s current price level is -3.34% away from its 20-day simple moving average and is -5.07% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 44.63 while volatility remained at 5.38% over the past week which changes to 5.08% when measuring it over the past month. Beta is valued at 0.57, while measure of average true range or ATR is currently at 0.22.

In comparing NovaGold Resources Inc. (NG)’s stock with other industry players reveals that stock’s current price change of 0.23% and that of -33.98% over the past 12 months is in competing position with that of Barrick Gold Corporation (GOLD) which saw its stock price raised by 0.86% in the last trading and went through a decrease of -16.37% in past 12-month trading. Industry’s another major player Seabridge Gold Inc. (SA) has rise 0.56% up in previous session, but over the past year has faced a fall of -25.98%, while Teck Resources Limited (TECK) was also down -4.89% however its price remained floating in the green at 33.72% over the same period. NovaGold Resources Inc. has a P/E ratio of 0 against that of Barrick Gold Corporation’s 13.51 while Seabridge Gold Inc. is showing 445.71 for the same. On the other hand, the S&P 500 Index was down -1.71% in the last trading session while the Dow Jones Industrial closed the session lower at -1.70%.

Having a second look at NovaGold Resources Inc. (AMEX:NG) provides that stock’s average daily trading volume for 3 months was 1.33 million, while it jumped to 1.39 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 333.23 million.

The percentage of outstanding shares held by the insiders is 26.51% while it is 55.80% for the institutional holders. The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 9.03 million which implies a short ratio of 4.65. This shows down a 2.71% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 9.51 million in the previous month. Subtraction of -35.42% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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