Fidelity Management & Research Co has recently announced that it has increased stake in Novagold Resources Inc. (AMEX:NG) by 0.93%. After grabbing 24.13 million shares, the institutional investor is now in possession of 0.22 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 7.22% having worth around $90.26 million. Moreover, First Eagle Investment Management increased its share by 72093.0 to have a control over 18.74 million shares. And BlackRock Fund Advisors raised its holdings to 0.21 million shares by acquiring 11.6 million shares or 3.47% of the stake.
Novagold Resources Inc. (NG) concluded trading on Wednesday at a closing price of $3.17, with 4.98 million shares of worth about $15.8 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -29.08% during that period and On Wednesday, January 24 the price saw a loss of about -8.65%. Currently the company’s common shares owned by public are about 333.75M shares, out of which, 229.03M shares are available for trading.
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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 17.74 million shares of worth totaling $66.35 million. The company recently came buying 0.0 shares which brought its stake up to 5.31% of the company’s outstanding shares. VanEck Junior Gold Miners ETF sold 7510.0 shares, after which its hold over company’s outstanding shares shrunk to 2.60%, leaving 8.68 million shares with the mutual fund that have a worth of about $32.45 million. Fidelity Contrafund, after buying 6.97 million shares, have now control over 2.09% of the stake in the company. It holds 0.0 shares of worth $26.07 million.
Stock saw a price change of -9.94% in past 5 days and over the past one month there was a price change of -11.45%. Year-to-date (YTD), NG shares are showing a performance of -15.24% which decreased to -53.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.25 but also hit the highest price of $6.98 during that period. The average intraday trading volume for Novagold Resources Inc. shares is 1.79 million. The stock is currently trading -12.68% below its 20-day simple moving average (SMA20), while that difference is down -15.70% for SMA50 and it goes to -27.06% lower than SMA200.
Fidelity Management & Research Co acquired 24.13 million shares of Novagold Resources Inc. having value of about $90.26 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.22 million shares in the company valued at close to $703375.45, or have control over 0.93% stake in the company. Novagold Resources Inc. (AMEX: NG) currently have 333.75M outstanding shares and institutions hold larger chunk of about 52.54% of that. Holding of mutual funds in the company is about 30.59% while other institutional holders and individual stake holders have control over 36.38% and 22.95% of the stake respectively.
The stock has a current market capitalization of $1.06B and its 3Y-monthly beta is at 1.06. It has posted earnings per share of -$0.15 in the same period. It has Quick Ratio of 33.31 while making debt-to-equity ratio of 1310.50. 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 5.96% while standing at 4.39% over the month.
Analysts are in expectations that Novagold Resources Inc. (NG) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.08 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 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 42.86%.
