Market Analysts see NovaGold Resources Inc. [NG] gaining to $7. Time to buy?

NovaGold Resources Inc. [AMEX: NG] plunged by -$0.45 during the normal trading session on Tuesday and reaching a high of $10.48 during the day while it closed the day at $10.01. The company report on October 26, 2020 that Donlin Gold 2020 Q3 Update: Drilling Continues to Yield High Grade Intercepts and Improve Geological Modeling.

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Donlin Gold LLC, owned 50/50 by Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX, NYSE American: NG), is pleased to announce the successful completion of its 2020 85-hole drilling program totaling approximately 23,400 meters. The holes were drilled in both the ACMA and Lewis deposit areas of the Donlin Gold project.

Assay results for the first 25 holes (representing 30% of the length drilled) have been received to date, of which nine were previously released to the market on August 6.

NovaGold Resources Inc. stock has also loss -2.05% of its value over the past 7 days. However, NG stock has declined by -5.57% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.93% and gained 11.72% year-on date.

The market cap for NG stock reached $3.47 billion, with 329.60 million shares outstanding and 240.61 million shares in the current float. Compared to the average trading volume of 1.49M shares, NG reached a trading volume of 1011107 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about NovaGold Resources Inc. [NG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NG shares is $7.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley FBR Inc. have made an estimate for NovaGold Resources Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 19, 2017. The new note on the price target was released on September 27, 2016, representing the official price target for NovaGold Resources Inc. stock. Previously, the target price had yet another drop from $16 to $11, while RBC Capital Mkts kept a Sector Perform rating on NG stock. On January 21, 2011, analysts increased their price target for NG shares from 9 to 16.

The Average True Range (ATR) for NovaGold Resources Inc. is set at 0.39 The Price to Book ratio for the last quarter was 28.60, with the Price to Cash per share for the same quarter was set at 0.36.

NG stock trade performance evaluation

NovaGold Resources Inc. [NG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.05. With this latest performance, NG shares dropped by -5.12% in over the last four-week period, additionally plugging by 14.93% over the last 6 months – not to mention a rise of 25.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NG stock in for the last two-week period is set at 44.60, with the RSI for the last a single of trading hit 43.08, and the three-weeks RSI is set at 45.55 for NovaGold Resources Inc. [NG]. The present Moving Average for the last 50 days of trading for this stock 10.54, while it was recorded at 10.46 for the last single week of trading, and 9.96 for the last 200 days.

NovaGold Resources Inc. [NG]: An insightful look at the core fundamentals

Return on Total Capital for NG is now -8.13, given the latest momentum, and Return on Invested Capital for the company is -13.82. Return on Equity for this stock declined to -18.60, with Return on Assets sitting at -10.96. When it comes to the capital structure of this company, NovaGold Resources Inc. [NG] has a Total Debt to Total Equity ratio set at 37.39. Additionally, NG Total Debt to Total Capital is recorded at 27.21, with Total Debt to Total Assets ending up at 20.98. Long-Term Debt to Equity for the company is recorded at 37.39, with the Long-Term Debt to Total Capital now at 27.21.

Reflecting on the efficiency of the workforce at the company, NovaGold Resources Inc. [NG] managed to generate an average of -$3,074,536 per employee.NovaGold Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 63.20 and a Current Ratio set at 63.20.

Earnings per share (EPS) analysis for NovaGold Resources Inc. [NG] stock

With the latest financial reports released by the company, NovaGold Resources Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NG.

NovaGold Resources Inc. [NG]: Insider Ownership positions

There are presently around $1,729 million, or 55.90% of NG stock, in the hands of institutional investors. The top three institutional holders of NG stocks are: FMR LLC with ownership of 24,697,544, which is approximately 0.214% of the company’s market cap and around 0.40% of the total institutional ownership; PAULSON & CO. INC., holding 22,226,300 shares of the stock with an approximate value of $222.49 million in NG stocks shares; and BLACKROCK INC., currently with $136.02 million in NG stock with ownership of nearly 4.822% of the company’s market capitalization.

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Positions in NovaGold Resources Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 74 institutional holders increased their position in NovaGold Resources Inc. [AMEX:NG] by around 29,314,855 shares. Additionally, 102 investors decreased positions by around 11,154,351 shares, while 43 investors held positions by with 132,267,786 shares. The mentioned changes placed institutional holdings at 172,736,992 shares, according to the latest SEC report filing. NG stock had 20 new institutional investments in for a total of 20,741,923 shares, while 31 institutional investors sold positions of 1,147,013 shares during the same period.

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