NOVAGOLD RESOURCES Net Income vs. Cash Flow From Operations
| NGR Stock | EUR 3.16 0.01 0.32% |
For NOVAGOLD RESOURCES profitability analysis, we use financial ratios and fundamental drivers that measure the ability of NOVAGOLD RESOURCES to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well NOVAGOLD RESOURCES utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between NOVAGOLD RESOURCES's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of NOVAGOLD RESOURCES over time as well as its relative position and ranking within its peers.
NOVAGOLD |
NOVAGOLD RESOURCES Cash Flow From Operations vs. Net Income Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining NOVAGOLD RESOURCES's current stock value. Our valuation model uses many indicators to compare NOVAGOLD RESOURCES value to that of its competitors to determine the firm's financial worth. NOVAGOLD RESOURCES is regarded fifth in net income category among its peers. It also is regarded fifth in cash flow from operations category among its peers . The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the NOVAGOLD RESOURCES's earnings, one of the primary drivers of an investment's value.NOVAGOLD Cash Flow From Operations vs. Net Income
Net income is the profit of a company for the reporting period, which is derived after taking revenues and gains and subtracting all expenses and losses. Net income is one of the most-watched numbers by money managers as well as individual investors.
NOVAGOLD RESOURCES |
| = | (53.34 M) |
Because income is reported on the Income Statement of a company and is measured in dollars some investors prefer to use Profit Margin, which measures income as a percentage of sales.
Operating Cash Flow reveals the quality of a company's reported earnings and is calculated by deducting company's income taxes from earnings before interest, taxes, and depreciation (EBITDA). In other words, Operating Cash Flow refers to the amount of cash a firm generates from the sales or products or from rendering services. Operating Cash Flow typically excludes costs associated with long-term investments or investment in marketable securities and is usually used by investors or analysts to check on the quality of a company's earnings.
NOVAGOLD RESOURCES |
| = | (12.37 M) |
Operating Cash Flow shows the difference between reported income and actual cash flows of the company. If a firm does not have enough cash or cash equivalents to cover its current liabilities, then both investors and management should be concerned about the company having enough liquid resources to meet current and long term debt obligations.
NOVAGOLD Cash Flow From Operations Comparison
NOVAGOLD RESOURCES is currently under evaluation in cash flow from operations category among its peers.
NOVAGOLD Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on NOVAGOLD RESOURCES. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of NOVAGOLD RESOURCES position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the NOVAGOLD RESOURCES's important profitability drivers and their relationship over time.
Use NOVAGOLD RESOURCES in pair-trading
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.NOVAGOLD RESOURCES Pair Trading
NOVAGOLD RESOURCES Pair Trading Analysis
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.Use Investing Themes to Complement your NOVAGOLD RESOURCES position
In addition to having NOVAGOLD RESOURCES in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Alternative Currency ETFs Thematic Idea Now
Alternative Currency ETFs
ETF themes focus on helping investors to gain exposure to a broad range of assets, diversify, and lower overall costs. The Alternative Currency ETFs theme has 48 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Alternative Currency ETFs Theme or any other thematic opportunities.
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Additional Information and Resources on Investing in NOVAGOLD Stock
When determining whether NOVAGOLD RESOURCES is a strong investment it is important to analyze NOVAGOLD RESOURCES's 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's future performance. For an informed investment choice regarding NOVAGOLD Stock, refer to the following important reports:Check out Correlation Analysis. For information on how to trade NOVAGOLD Stock refer to our How to Trade NOVAGOLD Stock guide.You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
To fully project NOVAGOLD RESOURCES's future profitability, investors should examine all historical financial statements. These statements provide investors with a comprehensive snapshot of the financial position of NOVAGOLD RESOURCES at a specified time, usually calculated after every quarter, six months, or one year. Three primary documents fall into the category of financial statements. These documents include NOVAGOLD RESOURCES's income statement, its balance sheet, and the statement of cash flows.