NovaGold Historical Balance Sheet
NG Stock | CAD 5.03 0.08 1.62% |
Trend analysis of NovaGold Resources balance sheet accounts such as Total Current Liabilities of 4.3 M provides information on NovaGold Resources' total assets, liabilities, and equity, which is the actual value of NovaGold Resources to its prevalent stockholders. By breaking down trends over time using NovaGold Resources balance sheet statements, investors will see what precisely the company owns and what it owes to creditors or other parties at the end of each accounting year.
Financial Statement Analysis is much more than just reviewing and examining NovaGold Resources latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether NovaGold Resources is a good buy for the upcoming year.
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About NovaGold Balance Sheet Analysis
Balance Sheet is a snapshot of the financial position of NovaGold Resources at a specified time, usually calculated after every quarter, six months, or one year. NovaGold Resources Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of NovaGold Resources and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which NovaGold currently owns. An asset can also be divided into two categories, current and non-current.
NovaGold Resources Balance Sheet Chart
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Total Assets
Total assets refers to the total amount of NovaGold Resources assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in NovaGold Resources books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.Total Current Liabilities
Total Current Liabilities is an item on NovaGold Resources balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of NovaGold Resources are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.Most accounts from NovaGold Resources' balance sheet are interrelated and interconnected. However, analyzing balance sheet accounts one by one will only give a small insight into NovaGold Resources current financial condition. On the other hand, looking into the entire matrix of balance sheet accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. 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 estimate. To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.At this time, NovaGold Resources' Current Deferred Revenue is very stable compared to the past year. As of the 27th of November 2024, Net Debt is likely to grow to about 110.8 M, while Total Assets are likely to drop about 145.6 M.
2021 | 2022 | 2023 | 2024 (projected) | Short and Long Term Debt Total | 124.6M | 137.5M | 158.2M | 82.5M | Total Assets | 159.2M | 133.3M | 153.3M | 145.6M |
NovaGold Resources balance sheet Correlations
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NovaGold Resources Account Relationship Matchups
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NovaGold Resources balance sheet Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 224.4M | 198.9M | 159.2M | 133.3M | 153.3M | 145.6M | |
Short Long Term Debt Total | 110.4M | 116.1M | 124.6M | 137.5M | 158.2M | 82.5M | |
Other Current Liab | 182K | 3.5M | 3.7M | 3.0M | 3.5M | 3.3M | |
Total Current Liabilities | 3.5M | 4.4M | 4.6M | 3.9M | 4.5M | 4.3M | |
Total Stockholder Equity | 110.7M | 78.3M | 29.9M | (8.2M) | (9.5M) | (9.0M) | |
Property Plant And Equipment Net | 634K | 423K | 958K | 898K | 808.2K | 767.8K | |
Net Debt | 49.5M | 25.0M | 60.7M | 91.8M | 105.6M | 110.8M | |
Retained Earnings | (1.9B) | (2.0B) | (2.0B) | (2.1B) | (1.9B) | (1.8B) | |
Accounts Payable | 900K | 682K | 769K | 703K | 632.7K | 601.1K | |
Cash | 60.9M | 91.1M | 63.9M | 45.7M | 52.6M | 56.7M | |
Non Current Assets Total | 28.1M | 29.4M | 6.7M | 6.1M | 7.0M | 6.6M | |
Non Currrent Assets Other | 89.5M | 92.7M | 23.4M | 23.6M | 27.1M | 21.0M | |
Cash And Short Term Investments | 121.9M | 169.1M | 125.9M | 125.7M | 144.6M | 94.2M | |
Common Stock Shares Outstanding | 329.3M | 331.5M | 333.2M | 334.1M | 384.2M | 200.8M | |
Liabilities And Stockholders Equity | 224.4M | 198.9M | 159.2M | 133.3M | 153.3M | 145.6M | |
Non Current Liabilities Total | 110.2M | 116.2M | 124.7M | 137.6M | 158.2M | 88.1M | |
Other Current Assets | 74.5K | 327.0 | 1.3M | 1.5K | 1.7K | 1.6K | |
Other Stockholder Equity | 81.2M | 82.2M | 82.9M | 88.6M | 101.9M | 96.8M | |
Total Liab | 113.7M | 120.6M | 129.3M | 141.5M | 162.7M | 107.2M | |
Property Plant And Equipment Gross | 634K | 423K | 958K | 898K | 808.2K | 767.8K | |
Total Current Assets | 196.4M | 169.5M | 152.5M | 127.2M | 146.3M | 102.2M | |
Accumulated Other Comprehensive Income | (23.9M) | (23.3M) | (24.4M) | (24.5M) | (22.0M) | (20.9M) | |
Short Term Debt | 207K | 224K | 142K | 192K | 220.8K | 209.8K | |
Net Receivables | 73.2M | 302K | 25.4M | 345K | 396.8K | 376.9K | |
Short Term Investments | 61M | 78M | 62M | 80M | 92M | 74.9M | |
Common Stock | 2.0B | 2.0B | 2.0B | 2.0B | 2.3B | 1.8B | |
Long Term Debt | 109.8M | 115.7M | 123.7M | 136.7M | 157.3M | 110.3M | |
Long Term Investments | 4.0M | 5.4M | 5.7M | 5.2M | 4.7M | 4.4M | |
Other Liab | 80K | 751K | 280K | 200K | 180K | 171K | |
Net Tangible Assets | 138.0M | 110.7M | 78.3M | 29.9M | 26.9M | 25.6M | |
Property Plant Equipment | 42K | 634K | 423K | 958K | 862.2K | 819.1K | |
Long Term Debt Total | 103.8M | 109.8M | 115.7M | 123.7M | 142.2M | 110.6M | |
Capital Surpluse | 82.3M | 81.2M | 82.2M | 82.9M | 95.3M | 91.2M | |
Cash And Equivalents | 67.5M | 60.9M | 91.1M | 63.9M | 73.5M | 57.0M |
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 against NovaGold Stock
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0.51 | WMT | Walmart Inc CDR | PairCorr |
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 estimate. To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.