NovaGold Resources Inc. (AMEX:NG) does about 3.28M shares in volume on a normal day but saw 1817198 shares change hands in Friday trading. The company now has a market cap of 2.93B USD and an enterprise value of about $3.03B. Its current market price is $9.12, marking an increase of 3.64% compared to the previous close of $8.80. The 52 week high reached by this stock is $12.85 whilst the lowest price level in 52 weeks is $4.65. The script in recent trading has seen the stock touch a high of $9.14 and a low of $8.83.
NovaGold Resources Inc. (NG) has a 20-day trading average at $8.81 and the current price is -29.00% off the 52-week high compared with 96.13% distance from its 52-week low. The 50-day simple moving average of the closing price is $8.95 and its 200-day simple moving average is $8.68. If we look at the stock’s price movements over the week, volatility stands at 4.34%, which increases to 5.28% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 54.34 to suggest the stock is neutral.
1 analysts observing the NovaGold Resources Inc. (NG) stock have set the 12-month price targets for the company’s shares at between $30.00 and $30.00. The median price target is 69.6% away from the current levels at $30.00.
FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy.
JP Morgan upgraded the stock to “Overweight” from Neutral on September 27, 2016 at a price target of . RBC Capital Mkts reiterated its price target at $16-$11.
The current price level is 3.51%, 1.36%, and 5.31% away from its SMA20, SMA50, and SMA200 respectively, with the NG price moving above the 50-day SMA on July 31. NovaGold Resources Inc. (NG) stock is up 3.75% over the week and -2.04% over the past month. Its price is 1.79% year-to-date and 38.39% over the past year.
Its 12-month price target is $30.00. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $30.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $30.00.
Outstanding shares total 329.11M with insiders holding 27.14% of the shares and institutional holders owning 54.47% of the company’s common stock. The company has a return on equity of -22.10%. The beta has a value of 0.50. Price to book ratio is 24.00.
According to a U.S. Securities and Exchange Commission filing, VanEck Vectors – Junior Gold Mine has reduced its position in NovaGold Resources Inc. (NG) to 9,105,729 shares, mirroring a recent drop by -0.09%. VanEck Vectors – Junior Gold Mine dumped 8521.0 shares of NovaGold Resources Inc. common stock bringing its total worth to about $83.59 million at the end of recent close, SEC documents show. VanEck Vectors – Junior Gold Mine isn’t the only investment manager who changed stakes and is followed by Fidelity Contrafund, which sold off 11309.0 shares to end up with 7,265,328 shares worth $66.7 million. First Eagle Gold Fund cut their holdings by -12.59% in the company over the course of the most recent quarter. It now holds a 2.14% position in NovaGold Resources Inc. thanks to 7.04 million shares amounting to $64.61 million.