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.
 
Dot-com Bubble
 
Housing Crash
 
Credit Downgrade
 
Yuan Drop
 
Covid
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.

NovaGold Resources Inventory

1.29 Million

  
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.

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

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.

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 Total124.6M137.5M158.2M82.5M
Total Assets159.2M133.3M153.3M145.6M

NovaGold Resources balance sheet Correlations

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0.230.120.060.15-0.040.510.23-0.640.080.040.130.450.440.70.54-0.20.10.52-0.040.40.57-0.060.220.260.71
0.580.120.990.5-0.14-0.43-0.770.03-0.320.930.47-0.130.650.0-0.20.090.990.54-0.140.580.23-0.14-0.43-0.140.33
0.570.060.990.5-0.14-0.5-0.80.09-0.340.920.46-0.140.62-0.05-0.260.10.990.5-0.140.560.17-0.09-0.45-0.150.29
0.980.150.50.50.72-0.58-0.650.01-0.190.470.98-0.260.550.2-0.120.670.450.240.720.480.64-0.15-0.390.160.43
0.64-0.04-0.14-0.140.72-0.34-0.110.090.04-0.170.79-0.5-0.010.120.010.66-0.2-0.111.0-0.090.43-0.22-0.090.280.06
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-0.14-0.640.030.090.010.09-0.62-0.390.18-0.150.04-0.33-0.52-0.91-0.880.050.07-0.740.09-0.57-0.03-0.2-0.55-0.12-0.56
-0.270.08-0.32-0.34-0.190.040.330.180.18-0.41-0.16-0.05-0.43-0.16-0.15-0.41-0.29-0.390.04-0.410.030.050.0-0.02-0.31
0.580.040.930.920.47-0.17-0.4-0.75-0.15-0.410.4-0.090.780.15-0.040.180.910.65-0.170.750.070.0-0.35-0.220.36
0.960.130.470.460.980.79-0.53-0.570.04-0.160.4-0.360.440.16-0.110.620.410.220.790.330.61-0.26-0.360.240.35
-0.250.45-0.13-0.14-0.26-0.50.360.22-0.33-0.05-0.09-0.360.230.250.17-0.27-0.110.04-0.50.210.17-0.020.130.150.45
0.660.440.650.620.55-0.01-0.21-0.46-0.52-0.430.780.440.230.590.360.390.60.77-0.010.940.37-0.05-0.13-0.160.82
0.320.70.0-0.050.20.120.450.25-0.91-0.160.150.160.250.590.910.1-0.050.760.120.620.170.150.430.160.61
0.020.54-0.2-0.26-0.120.010.580.53-0.88-0.15-0.04-0.110.170.360.910.0-0.250.70.010.39-0.090.120.640.080.42
0.64-0.20.090.10.670.66-0.67-0.330.05-0.410.180.62-0.270.390.10.00.020.060.660.340.38-0.1-0.09-0.080.33
0.530.10.990.990.45-0.2-0.42-0.770.07-0.290.910.41-0.110.6-0.05-0.250.020.5-0.20.550.19-0.08-0.44-0.140.27
0.420.520.540.50.24-0.110.19-0.08-0.74-0.390.650.220.040.770.760.70.060.5-0.110.750.030.030.29-0.050.59
0.64-0.04-0.14-0.140.721.0-0.34-0.110.090.04-0.170.79-0.5-0.010.120.010.66-0.2-0.11-0.090.43-0.22-0.090.280.06
0.590.40.580.560.48-0.09-0.14-0.42-0.57-0.410.750.330.210.940.620.390.340.550.75-0.090.270.280.01-0.20.72
0.60.570.230.170.640.43-0.18-0.24-0.030.030.070.610.170.370.17-0.090.380.190.030.430.27-0.26-0.240.240.64
-0.14-0.06-0.14-0.09-0.15-0.220.160.05-0.20.050.0-0.26-0.02-0.050.150.12-0.1-0.080.03-0.220.28-0.260.37-0.11-0.19
-0.290.22-0.43-0.45-0.39-0.090.580.77-0.550.0-0.35-0.360.13-0.130.430.64-0.09-0.440.29-0.090.01-0.240.37-0.050.1
0.140.26-0.14-0.150.160.280.20.13-0.12-0.02-0.220.240.15-0.160.160.08-0.08-0.14-0.050.28-0.20.24-0.11-0.05-0.04
0.520.710.330.290.430.060.02-0.06-0.56-0.310.360.350.450.820.610.420.330.270.590.060.720.64-0.190.1-0.04
Click cells to compare fundamentals

NovaGold Resources Account Relationship Matchups

NovaGold Resources balance sheet Accounts

201920202021202220232024 (projected)
Total Assets224.4M198.9M159.2M133.3M153.3M145.6M
Short Long Term Debt Total110.4M116.1M124.6M137.5M158.2M82.5M
Other Current Liab182K3.5M3.7M3.0M3.5M3.3M
Total Current Liabilities3.5M4.4M4.6M3.9M4.5M4.3M
Total Stockholder Equity110.7M78.3M29.9M(8.2M)(9.5M)(9.0M)
Property Plant And Equipment Net634K423K958K898K808.2K767.8K
Net Debt49.5M25.0M60.7M91.8M105.6M110.8M
Retained Earnings(1.9B)(2.0B)(2.0B)(2.1B)(1.9B)(1.8B)
Accounts Payable900K682K769K703K632.7K601.1K
Cash60.9M91.1M63.9M45.7M52.6M56.7M
Non Current Assets Total28.1M29.4M6.7M6.1M7.0M6.6M
Non Currrent Assets Other89.5M92.7M23.4M23.6M27.1M21.0M
Cash And Short Term Investments121.9M169.1M125.9M125.7M144.6M94.2M
Common Stock Shares Outstanding329.3M331.5M333.2M334.1M384.2M200.8M
Liabilities And Stockholders Equity224.4M198.9M159.2M133.3M153.3M145.6M
Non Current Liabilities Total110.2M116.2M124.7M137.6M158.2M88.1M
Other Current Assets74.5K327.01.3M1.5K1.7K1.6K
Other Stockholder Equity81.2M82.2M82.9M88.6M101.9M96.8M
Total Liab113.7M120.6M129.3M141.5M162.7M107.2M
Property Plant And Equipment Gross634K423K958K898K808.2K767.8K
Total Current Assets196.4M169.5M152.5M127.2M146.3M102.2M
Accumulated Other Comprehensive Income(23.9M)(23.3M)(24.4M)(24.5M)(22.0M)(20.9M)
Short Term Debt207K224K142K192K220.8K209.8K
Net Receivables73.2M302K25.4M345K396.8K376.9K
Short Term Investments61M78M62M80M92M74.9M
Common Stock2.0B2.0B2.0B2.0B2.3B1.8B
Long Term Debt109.8M115.7M123.7M136.7M157.3M110.3M
Long Term Investments4.0M5.4M5.7M5.2M4.7M4.4M
Other Liab80K751K280K200K180K171K
Net Tangible Assets138.0M110.7M78.3M29.9M26.9M25.6M
Property Plant Equipment42K634K423K958K862.2K819.1K
Long Term Debt Total103.8M109.8M115.7M123.7M142.2M110.6M
Capital Surpluse82.3M81.2M82.2M82.9M95.3M91.2M
Cash And Equivalents67.5M60.9M91.1M63.9M73.5M57.0M

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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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.
Pair CorrelationCorrelation Matching
When determining whether NovaGold Resources is a strong investment it is important to analyze NovaGold Resources' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact NovaGold Resources' future performance. For an informed investment choice regarding NovaGold Stock, refer to the following important reports:
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.
Please note, there is a significant difference between NovaGold Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if NovaGold Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NovaGold Resources' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.