Novagold Resources Stock Debt To Equity
| NG Stock | CAD 14.28 0.64 4.69% |
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 Debt To Equity Analysis
NovaGold Resources' Debt to Equity is calculated by dividing the Total Debt of a company by its Equity. If the debt exceeds equity of a company, then the creditors have more stakes in a firm than the stockholders. In other words, Debt to Equity ratio provides analysts with insights about composition of both equity and debt, and its influence on the valuation of the company.
Current NovaGold Resources Debt To Equity | 0.94 % |
Most of NovaGold Resources' fundamental indicators, such as Debt To Equity, 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.
High Debt to Equity ratio typically indicates that a firm has been borrowing aggressively to finance its growth and as a result may experience a burden of additional interest expense. This may reduce earnings or future growth. On the other hand a small D/E ratio may indicate that a company is not taking enough advantage from financial leverage. Debt to Equity ratio measures how the company is leveraging borrowing against the capital invested by the owners.
| Competition |
According to the company disclosure, NovaGold Resources has a Debt To Equity of 0.942%. This is 98.54% lower than that of the Metals & Mining sector and 96.48% lower than that of the Materials industry. The debt to equity for all Canada stocks is 98.07% higher than that of the company.
NovaGold Debt To Equity 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 Debt To Equity 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 debt to equity category among its peers.
NovaGold Fundamentals
| Return On Equity | -1.29 | ||||
| Return On Asset | -0.0621 | ||||
| Current Valuation | 5.54 B | ||||
| Shares Outstanding | 406.93 M | ||||
| Shares Owned By Insiders | 25.02 % | ||||
| Shares Owned By Institutions | 66.45 % | ||||
| Number Of Shares Shorted | 3.49 M | ||||
| Price To Earning | (48.33) X | ||||
| Price To Book | 21.98 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 | 5.56 X | ||||
| Earnings Per Share | (0.35) X | ||||
| Target Price | 19.5 | ||||
| Number Of Employees | 14 | ||||
| Beta | 1.5 | ||||
| Market Capitalization | 5.55 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
| 0.62 | AG | First Majestic Silver | PairCorr |
| 0.62 | IE | Ivanhoe Energy | PairCorr |
| 0.62 | ORE | Orezone Gold Corp | PairCorr |
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 signals in manufacturing. To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.