Kopernik Global Investors LLC has recently announced that it has increased stake in NovaGold Resources Inc. (AMEX:NG) by 0.99%. After grabbing 8.84 million shares, the institutional investor is now in possession of 86388.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.65% having worth around $48.09 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.13 million to have a control over 3.57 million shares.
NovaGold Resources Inc. (NG) concluded trading on 05/24/23 at a closing price of $5.37, with 1.66 million shares of worth about $8.91 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.56% during that period and on Wednesday the price saw a loss of about -2.72%. Currently the company’s common shares owned by public are about 333.95M shares, out of which, 244.94M shares are available for trading.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the NG stock and their offered price forecasts bring an average price target of $8.35. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $7.00. The stock’s current price level is 44.47% above of average price target set by the analysts, while a rise to estimated low would result in gain of 23.29% for the stock. However, touching the estimated high of $10.00 would mean a gain of 46.3% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 323 times over the past 12 months. They bought 3,907,361 shares in 207 of the transactions. In 116 selling transactions, insiders dumped 4,028,021 shares.
First Eagle Gold Fund, VanEck Junior Gold Miners ETF, and Fidelity Contrafund are the top 3 mutual funds which are holding stakes in NovaGold Resources Inc. First Eagle Gold Fund is currently holding 17.94 million shares of worth totaling $97.57 million. The company recently came selling 90522.0 shares which brought its stake up to 5.37% of the company’s outstanding shares. Fidelity Contrafund, after selling 7.0 million shares, have now control over 2.10% of the stake in the company. It holds 34531.0 shares of worth $38.11 million.
NovaGold Resources Inc. (AMEX: NG) started trading at $5.56, above $0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 5.53, or with a loss of -2.72%. Stock saw a price change of -0.92% in past 5 days and over the past one month there was a price change of -3.07%. Year-to-date (YTD), NG shares are showing a performance of -10.20% which decreased to -5.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.06 but also hit the highest price of $6.98 during that period. The average intraday trading volume for NovaGold Resources Inc. shares is 1.04 million. The stock is currently trading -1.82% below its 20-day simple moving average (SMA20), while that difference is down -6.55% for SMA50 and it goes to -2.30% lower than SMA200.
Kopernik Global Investors LLC acquired 8.84 million shares of NovaGold Resources Inc. having value of about $48.09 million. Data submitted at the U.S SEC by Kopernik Global Investors LLC revealed that the firm now holds 86388.0 shares in the company valued at close to $463903.56, or have control over 0.99% stake in the company. NovaGold Resources Inc. (AMEX: NG) currently have 333.95M outstanding shares and institutions hold larger chunk of about 58.70% of that. Holding of mutual funds in the company is about 29.93% while other institutional holders and individual stake holders have control over 36.45% and 21.67% of the stake respectively.
The stock has a current market capitalization of $1.79B and its 3Y-monthly beta is at 0.85. It has posted earnings per share of -$0.16 in the same period. It has Quick Ratio of 57.90 while making debt-to-equity ratio of 5.94. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NG, volatility over the week remained 2.85% while standing at 2.90% over the month.
Analysts are in expectations that NovaGold Resources Inc. (NG) stock would likely to be making an EPS of -$0.02 in the current quarter, while forecast for next quarter EPS is -$0.02 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is -$0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 50.00% while it is estimated to decrease by -75.00% in next year.
Analysts at 3 brokerage firms have issued recommendations for the NovaGold Resources Inc. (NG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 3 Wall Street analysts, 2 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Leave a Reply