Novagold Resources Inc [AMEX: NG] price plunged by -3.84 percent to reach at -$0.15.
The one-year NG stock forecast points to a potential upside of 41.71. The average equity rating for NG stock is currently 2.33, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $6.45 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 2.33. 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.
National Bank Financial have made an estimate for Novagold Resources Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 20, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on February 07, 2022, representing the official price target for Novagold Resources Inc stock. Previously, the target price had yet another raise to $7, while B. Riley FBR Inc. analysts kept a Buy rating on NG stock.
NG Stock Performance Analysis:
Novagold Resources Inc [NG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.05. With this latest performance, NG shares gained by 64.91% in over the last four-week period, additionally plugging by 6.82% over the last 6 months – not to mention a rise of 22.88% 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 50.73, with the RSI for the last a single of trading hit 45.04, and the three-weeks RSI is set at 52.65 for Novagold Resources Inc [NG]. The present Moving Average for the last 50 days of trading for this stock 3.37, while it was recorded at 4.02 for the last single week of trading, and 3.63 for the last 200 days.
Insight into Novagold Resources Inc Fundamentals:
Novagold Resources Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 47.82 and a Current Ratio set at 47.82.
NG Stock EPS
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Novagold Resources Inc go to -0.00%.
Novagold Resources Inc [NG] Institutonal Ownership Details
The top three institutional holders of NG stocks are: PAULSON & CO. INC. with ownership of 27.24 million shares, which is approximately 8.1458%. FIRST EAGLE INVESTMENT MANAGEMENT, LLC, holding 21.49 million shares of the stock with an approximate value of $$74.34 million in NG stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $$67.22 million in NG stock with ownership which is approximately 5.8102%.
