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NG

NovaGold Resources TSX:NG Stock Report

Last Price

CA$6.72

Market Cap

CA$2.2b

7D

14.1%

1Y

-24.8%

Updated

03 Oct, 2022

Data

Company Financials +
NG fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance0/6
Financial Health5/6
Dividends0/6

NG Stock Overview

NovaGold Resources Inc. explores for and develops gold mineral properties in the United States.

NovaGold Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for NovaGold Resources
Historical stock prices
Current Share PriceCA$6.72
52 Week HighCA$10.53
52 Week LowCA$5.35
Beta0.56
1 Month Change18.73%
3 Month Change11.63%
1 Year Change-24.83%
3 Year Change-21.95%
5 Year Change27.51%
Change since IPO-56.08%

Recent News & Updates

Aug 13
Is NovaGold Resources (TSE:NG) Using Debt Sensibly?

Is NovaGold Resources (TSE:NG) Using Debt Sensibly?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Apr 29
Is NovaGold Resources (TSE:NG) Using Too Much Debt?

Is NovaGold Resources (TSE:NG) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

NGCA Metals and MiningCA Market
7D14.1%12.4%3.3%
1Y-24.8%-6.0%-4.0%

Return vs Industry: NG underperformed the Canadian Metals and Mining industry which returned -8.1% over the past year.

Return vs Market: NG underperformed the Canadian Market which returned -6.6% over the past year.

Price Volatility

Is NG's price volatile compared to industry and market?
NG volatility
NG Average Weekly Movement6.1%
Metals and Mining Industry Average Movement11.7%
Market Average Movement10.1%
10% most volatile stocks in CA Market18.4%
10% least volatile stocks in CA Market3.8%

Stable Share Price: NG is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: NG's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
198413Greg Langhttps://www.novagold.com

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.

NovaGold Resources Fundamentals Summary

How do NovaGold Resources's earnings and revenue compare to its market cap?
NG fundamental statistics
Market CapCA$2.24b
Earnings (TTM)-CA$64.13m
Revenue (TTM)n/a

0.0x

P/S Ratio

-34.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NG income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other ExpensesUS$47.02m
Earnings-US$47.02m

Last Reported Earnings

May 31, 2022

Next Earnings Date

Oct 04, 2022

Earnings per share (EPS)-0.14
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio213.7%

How did NG perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is NG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NG?

Other financial metrics that can be useful for relative valuation.

NG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDA-79.3x
PEG Ration/a

Price to Book Ratio vs Peers

How does NG's PB Ratio compare to its peers?

NG PB Ratio vs Peers
The above table shows the PB ratio for NG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average2.8x
LUG Lundin Gold
1.9x-17.4%CA$2.4b
SSL Sandstorm Gold
2.4xn/aCA$2.0b
KNT K92 Mining
5.5x44.8%CA$1.9b
OR Osisko Gold Royalties
1.4x43.6%CA$2.6b
NG NovaGold Resources
29.5x36.5%CA$2.2b

Price-To-Book vs Peers: NG is expensive based on its Price-To-Book Ratio (29.5x) compared to the peer average (2.8x).


Price to Earnings Ratio vs Industry

How does NG's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

Price-To-Book vs Industry: NG is expensive based on its Price-To-Book Ratio (29.5x) compared to the Canadian Metals and Mining industry average (1.5x)


Price to Book Ratio vs Fair Ratio

What is NG's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio29.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NG's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of NG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NG's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NG's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is NovaGold Resources forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


36.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NG is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: NG is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: NG is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if NG's revenue is forecast to grow faster than the Canadian market.

High Growth Revenue: NG is forecast to have no revenue next year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NG is forecast to be unprofitable in 3 years.


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Past Performance

How has NovaGold Resources performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-4.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NG is currently unprofitable.

Growing Profit Margin: NG is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: NG is unprofitable, and losses have increased over the past 5 years at a rate of 4.6% per year.

Accelerating Growth: Unable to compare NG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: NG is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-7.3%).


Return on Equity

High ROE: NG has a negative Return on Equity (-84.49%), as it is currently unprofitable.


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Financial Health

How is NovaGold Resources's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: NG's short term assets ($143.3M) exceed its short term liabilities ($2.8M).

Long Term Liabilities: NG's short term assets ($143.3M) exceed its long term liabilities ($120.1M).


Debt to Equity History and Analysis

Debt Level: NG has more cash than its total debt.

Reducing Debt: NG's debt to equity ratio has increased from 30.5% to 213.7% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: NG has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: NG has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 5.1% each year


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Dividend

What is NovaGold Resources's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

NovaGold Resources Dividend Yield vs Market
How does NovaGold Resources dividend yield compare to the market?
SegmentDividend Yield
Company (NovaGold Resources)n/a
Market Bottom 25% (CA)1.9%
Market Top 25% (CA)6.0%
Industry Average (Metals and Mining)2.6%
Analyst forecast in 3 Years (NovaGold Resources)n/a

Notable Dividend: Unable to evaluate NG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate NG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if NG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if NG's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as NG has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

9.7yrs

Average management tenure


CEO

Greg Lang (67 yo)

10.5yrs

Tenure

US$4,748,048

Compensation

Mr. Gregory A. Lang, also known as Greg, has been the Chief Executive Officer and President of NovaGold Resources Inc. since January 9, 2012 and has been its Director since 2012. Mr. Lang has extensive yea...


CEO Compensation Analysis

Greg Lang's Compensation vs NovaGold Resources Earnings
How has Greg Lang's remuneration changed compared to NovaGold Resources's earnings?
DateTotal Comp.SalaryCompany Earnings
May 31 2022n/an/a

-US$47m

Feb 28 2022n/an/a

-US$43m

Nov 30 2021US$5mUS$804k

-US$41m

Aug 31 2021n/an/a

-US$37m

May 31 2021n/an/a

-US$38m

Feb 28 2021n/an/a

-US$35m

Nov 30 2020US$5mUS$781k

-US$34m

Aug 31 2020n/an/a

-US$34m

May 31 2020n/an/a

-US$30m

Feb 29 2020n/an/a

-US$28m

Nov 30 2019US$4mUS$760k

-US$28m

Aug 31 2019n/an/a

-US$26m

May 31 2019n/an/a

-US$26m

Feb 28 2019n/an/a

-US$30m

Nov 30 2018US$5mUS$760k

-US$31m

Aug 31 2018n/an/a

-US$34m

May 31 2018n/an/a

-US$36m

Feb 28 2018n/an/a

-US$35m

Nov 30 2017US$5mUS$758k

-US$37m

Aug 31 2017n/an/a

-US$35m

May 31 2017n/an/a

-US$33m

Feb 28 2017n/an/a

-US$34m

Nov 30 2016US$5mUS$739k

-US$33m

Aug 31 2016n/an/a

-US$34m

May 31 2016n/an/a

-US$33m

Feb 29 2016n/an/a

-US$33m

Nov 30 2015US$5mUS$714k

-US$32m

Compensation vs Market: Greg's total compensation ($USD4.75M) is above average for companies of similar size in the Canadian market ($USD2.31M).

Compensation vs Earnings: Greg's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: NG's management team is seasoned and experienced (9.7 years average tenure).


Board Members

Experienced Board: NG's board of directors are seasoned and experienced ( 10.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

TSX:NG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 Dec 21SellCA$783,333Gregory LangIndividual88,960CA$8.81
16 Dec 21SellCA$783,333Gregory LangIndividual88,960CA$8.81

Ownership Breakdown

What is the ownership structure of NG?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders4,665,7001.4%
Hedge Funds22,226,3006.7%
General Public51,635,76715.5%
Private Companies89,603,70426.9%
Institutions165,205,83649.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 76.67% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
25.37%
Electrum Strategic Holdings, L.L.C.
84,569,479$568.3m0%no data
7.5%
FMR LLC
25,000,115$168.0m-0.11%0.01%
6.67%
Paulson & Co. Inc.
22,226,300$149.4m0%4.9%
5.9%
BlackRock, Inc.
19,661,519$132.1m0%no data
4.84%
The Public Investment Fund of The Kingdom of Saudi Arabia
16,137,695$108.4m0%0.03%
4.62%
First Eagle Investment Management, LLC
15,394,458$103.5m9.2%0.13%
4.26%
Exor Capital LLP
14,211,573$95.5m13.63%5.9%
2.95%
Van Eck Associates Corporation
9,833,266$66.1m-14.93%0.1%
2.69%
The Vanguard Group, Inc.
8,964,322$60.2m0.43%no data
2.34%
Kopernik Global Investors, LLC
7,791,741$52.4m69.3%1.34%
1.5%
GRAT Holdings LLC
5,000,000$33.6m0%no data
1.04%
State Street Global Advisors, Inc.
3,482,995$23.4m-1.07%no data
0.81%
Sprott Asset Management LP
2,689,653$18.1m-5.63%0.65%
0.65%
Empyrean Capital Partners, LP
2,153,699$14.5m12.11%0.35%
0.62%
Gregory Lang
2,064,251$13.9m0.18%no data
0.6%
Geode Capital Management, LLC
1,997,640$13.4m0.11%no data
0.6%
Norges Bank Investment Management
1,987,760$13.4m0%no data
0.59%
JNE Partners LLP
1,955,047$13.1m0%3.73%
0.56%
Jupiter Fund Management Plc
1,866,420$12.5m-27.12%0.03%
0.49%
Deer Park Road Management Company, LP
1,647,254$11.1m0%1.27%
0.49%
Commerzbank AG, Asset Management Arm
1,638,015$11.0m0%0.12%
0.49%
Northern Trust Global Investments
1,630,297$11.0m-2.86%no data
0.42%
Russell Investment Management, LLC
1,398,563$9.4m46.49%0.01%
0.34%
Goldman Sachs Group, Investment Banking and Securities Investments
1,148,844$7.7m10.23%no data
0.34%
BMO Asset Management Corp.
1,127,204$7.6m-11.41%no data

Company Information

NovaGold Resources Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: NovaGold Resources Inc.
  • Ticker: NG
  • Exchange: TSX
  • Founded: 1984
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: CA$2.240b
  • Shares outstanding: 333.34m
  • Website: https://www.novagold.com

Number of Employees


Location

  • NovaGold Resources Inc.
  • 400 Burrard Street
  • Suite 1860
  • Vancouver
  • British Columbia
  • V6C 3A6
  • Canada


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NGTSX (The Toronto Stock Exchange)YesCommon SharesCACADJun 1987
NGNYSEAM (NYSE MKT LLC)YesCommon SharesUSUSDJun 1987
NGRDB (Deutsche Boerse AG)YesCommon SharesDEEURJun 1987
NG NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNJun 1987
NGBASE (Buenos Aires Stock Exchange)CEDEAR EACH 1 REP 4 COM CAD0.00ARARSNov 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 00:00
Earnings2022/05/31
Annual Earnings2021/11/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.