NovaGold Resources Inc. (NYSEAMERICAN:NG – Get Rating) (TSE:NG) – Equities researchers at B. Riley issued their FY2023 earnings estimates for shares of NovaGold Resources in a research report issued on Wednesday, June 21st. B. Riley analyst L. Pipes forecasts that the mining company will earn ($0.12) per share for the year. The consensus estimate for NovaGold Resources’ current full-year earnings is ($0.11) per share.
NovaGold Resources (NYSEAMERICAN:NG – Get Rating) (TSE:NG) last issued its quarterly earnings data on Wednesday, April 5th. The mining company reported ($0.03) EPS for the quarter.
NovaGold Resources Trading Down 2.6 %
NovaGold Resources stock opened at $4.58 on Monday. The company has a 50-day moving average price of $5.80. NovaGold Resources has a 12 month low of $4.06 and a 12 month high of $6.98. The company has a market capitalization of $1.53 billion, a P/E ratio of -28.63 and a beta of 0.85. The company has a quick ratio of 57.88, a current ratio of 57.88 and a debt-to-equity ratio of 5.94.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NG. Norges Bank purchased a new stake in NovaGold Resources in the 4th quarter worth about $12,493,000. Kopernik Global Investors LLC increased its stake in shares of NovaGold Resources by 28.6% in the fourth quarter. Kopernik Global Investors LLC now owns 8,754,173 shares of the mining company’s stock worth $52,350,000 after purchasing an additional 1,944,885 shares in the last quarter. Alps Advisors Inc. raised its position in shares of NovaGold Resources by 495.0% in the fourth quarter. Alps Advisors Inc. now owns 1,164,387 shares of the mining company’s stock valued at $6,963,000 after purchasing an additional 968,700 shares during the period. Exor Capital LLP lifted its stake in shares of NovaGold Resources by 6.3% during the 4th quarter. Exor Capital LLP now owns 15,702,926 shares of the mining company’s stock valued at $136,877,000 after buying an additional 926,148 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in NovaGold Resources by 221.4% in the 1st quarter. Renaissance Technologies LLC now owns 615,700 shares of the mining company’s stock worth $4,758,000 after buying an additional 424,107 shares during the period. 53.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Diane R. Garrett sold 14,950 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $5.58, for a total value of $83,421.00. Following the transaction, the director now owns 22,757 shares in the company, valued at $126,984.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Diane R. Garrett sold 14,950 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $5.58, for a total value of $83,421.00. Following the transaction, the director now owns 22,757 shares in the company, valued at approximately $126,984.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sharon Dowdall sold 39,799 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $6.41, for a total value of $255,111.59. Following the completion of the transaction, the director now directly owns 45,519 shares of the company’s stock, valued at $291,776.79. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by company insiders.
About NovaGold Resources
NovaGold Resources Inc explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc in March 1987.
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