NovaGold Operating Cash Flow Per Share vs Price To Sales Ratio Analysis
NG Stock | CAD 5.03 0.08 1.62% |
NovaGold Resources financial indicator trend analysis is infinitely more than just investigating NovaGold Resources recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NovaGold Resources is a good investment. Please check the relationship between NovaGold Resources Operating Cash Flow Per Share and its Price To Sales Ratio accounts. 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.
Operating Cash Flow Per Share vs Price To Sales Ratio
Operating Cash Flow Per Share vs Price To Sales Ratio Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NovaGold Resources Operating Cash Flow Per Share account and Price To Sales Ratio. At this time, the significance of the direction appears to have strong relationship.
The correlation between NovaGold Resources' Operating Cash Flow Per Share and Price To Sales Ratio is 0.77. Overlapping area represents the amount of variation of Operating Cash Flow Per Share that can explain the historical movement of Price To Sales Ratio in the same time period over historical financial statements of NovaGold Resources, assuming nothing else is changed. The correlation between historical values of NovaGold Resources' Operating Cash Flow Per Share and Price To Sales Ratio is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Operating Cash Flow Per Share of NovaGold Resources are associated (or correlated) with its Price To Sales Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Price To Sales Ratio has no effect on the direction of Operating Cash Flow Per Share i.e., NovaGold Resources' Operating Cash Flow Per Share and Price To Sales Ratio go up and down completely randomly.
Correlation Coefficient | 0.77 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Operating Cash Flow Per Share
A measure of the cash generated from a company's normal business operations per share, indicating how much cash is generated from a company's business operations on a per-share basis.Price To Sales Ratio
Price to Sales Ratio is figured by comparing NovaGold Resources stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on NovaGold Resources sales, a figure that is much harder to manipulate than other NovaGold Resources multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.Most indicators from NovaGold Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators 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 fundamental ratios indicators, 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' Selling General Administrative is very stable compared to the past year. As of the 27th of November 2024, Sales General And Administrative To Revenue is likely to grow to 209.39, while Tax Provision is likely to drop about 33.3 K.
NovaGold Resources fundamental ratios Correlations
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NovaGold Resources Account Relationship Matchups
High Positive Relationship
High Negative Relationship
NovaGold Resources fundamental ratios 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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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.