Novagold Resources Stock Current Liabilities
| NG Stock | CAD 13.10 0.04 0.30% |
By evaluating key metrics such as revenue growth, profitability, cash flow trends, and balance sheet strength, investors can better assess NovaGold Resources' long-term financial health and intrinsic value.
NovaGold |
NovaGold Resources Company Current Liabilities Analysis
NovaGold Resources' Current Liabilities is the company's short term debt. This usually includes obligations that are due within the next 12 months or within one fiscal year. Current liabilities are very important in analyzing a company's financial health as it requires the company to convert some of its current assets into cash.
Current NovaGold Resources Current Liabilities | 3.05 M |
Most of NovaGold Resources' fundamental indicators, such as Current Liabilities, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, NovaGold Resources is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Current liabilities appear on the company's balance sheet and include all short term debt accounts, accounts and notes payable, accrued liabilities as well as current payments due on the long-term loans. One of the most useful applications of Current Liabilities is the current ratio which is defined as current assets divided by its current liabilities. High current ratios mean that current assets are more than sufficient to pay off current liabilities.
| Competition |
In accordance with the recently published financial statements, NovaGold Resources has a Current Liabilities of 3.05 M. This is 99.95% lower than that of the Metals & Mining sector and 98.6% lower than that of the Materials industry. The current liabilities for all Canada stocks is 99.96% higher than that of the company.
NovaGold Current Liabilities Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses NovaGold Resources' direct or indirect competition against its Current Liabilities to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of NovaGold Resources could also be used in its relative valuation, which is a method of valuing NovaGold Resources by comparing valuation metrics of similar companies.NovaGold Resources is currently under evaluation in current liabilities category among its peers.
NovaGold Fundamentals
| Return On Equity | -1.29 | |||
| Return On Asset | -0.0621 | |||
| Current Valuation | 5.58 B | |||
| Shares Outstanding | 406.93 M | |||
| Shares Owned By Insiders | 25.03 % | |||
| Shares Owned By Institutions | 68.24 % | |||
| Number Of Shares Shorted | 3.68 M | |||
| Price To Earning | (48.33) X | |||
| Price To Book | 22.36 X | |||
| EBITDA | (24.91 M) | |||
| Net Income | (45.62 M) | |||
| Cash And Equivalents | 42.22 M | |||
| Cash Per Share | 0.38 X | |||
| Total Debt | 152.45 M | |||
| Debt To Equity | 0.94 % | |||
| Current Ratio | 63.25 X | |||
| Book Value Per Share | 0.43 X | |||
| Cash Flow From Operations | (12.64 M) | |||
| Short Ratio | 7.39 X | |||
| Earnings Per Share | (0.35) X | |||
| Target Price | 19.5 | |||
| Number Of Employees | 14 | |||
| Beta | 1.57 | |||
| Market Capitalization | 5.35 B | |||
| Total Asset | 109.75 M | |||
| Retained Earnings | (2.1 B) | |||
| Working Capital | 98.27 M | |||
| Current Asset | 107.34 M | |||
| Current Liabilities | 3.05 M | |||
| Net Asset | 109.75 M |
About NovaGold Resources Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze NovaGold Resources's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of NovaGold Resources using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of NovaGold Resources based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with NovaGold Resources
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if NovaGold Resources position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in NovaGold Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with NovaGold Stock
Moving against NovaGold Stock
The ability to find closely correlated positions to NovaGold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NovaGold Resources when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NovaGold Resources - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NovaGold Resources to buy it.
The correlation of NovaGold Resources is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NovaGold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NovaGold Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for NovaGold Resources can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaGold Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices. To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.