NovaGold Resources Inc. (USA) (NYSEMKT:NG) on a downtrend

746

Dallas, Texas 09/19/2013 (Financialstrend) – NovaGold Resources Inc. (USA) (NYSEMKT:NG)’s shares have been on the downslide since 11 September. Over the last 30 days, the company has lost more than 15% of its market-value. In Wednesday’s trading the company’s stock traded up 8.59%. The opening price of the shares was $2.54 which reached an intraday high of $2.79 and dropped to close at $2.78. Approximately 3.49 million shares exchanged hands on Wednesday while the average volume of shares that were traded over a period of 30 days was 1.99 million. The shares had a 52-week low of 1.90 and its 52-week high is 6.30.

The company has a market cap of $880.28 million. NovaGold Resources Inc. (USA) (NYSEMKT:NG) stock has been performing below the market index by a sizeable margin. The Doe Jones index is now trading at 0.23 percent and the basics-materials index is now hinged at 0.05%.

No revenue streams

With the drop in its share price, the company’s market-cap has dropped to $842M with 316M outstanding shares. NovaGold Resources Inc. (USA) (NYSEMKT:NG) has not paid-out  a divided in the past 2 years. The consistent lack in upward-momentum in the company’s stock is directly-linked to its dismal second-quarter numbers that were reported in July for quarter that ended 30 May.  The company is considered to be an in-development mining firm and thus has no revenue-streams right now to fund its operations.

NovaGold Resources Inc. (USA) (NYSEMKT:NG) plans to provide for cash-flow that is required to sustain its operations till the point when the company starts production. It might then offer common-stock on sale in open markets. As of 30 May, its long-term convertible debt was $22.2M which will be due on 15 May. NovaGold is a precious-metals company. It is involved in exploring and developing precious minerals in the North American regions. It has assets in the United States, Alaska, Canada and British Columbia.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.