NovaGold Retained Earnings vs Total Stockholder Equity Analysis

NG Stock  CAD 5.15  0.09  1.78%   
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 Retained Earnings and its Total Stockholder Equity 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.

Retained Earnings vs Total Stockholder Equity

Retained Earnings vs Total Stockholder Equity Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NovaGold Resources Retained Earnings account and Total Stockholder Equity. At this time, the significance of the direction appears to have no relationship.
The correlation between NovaGold Resources' Retained Earnings and Total Stockholder Equity is 0.01. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Total Stockholder Equity 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' Retained Earnings and Total Stockholder Equity is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of NovaGold Resources are associated (or correlated) with its Total Stockholder Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Stockholder Equity has no effect on the direction of Retained Earnings i.e., NovaGold Resources' Retained Earnings and Total Stockholder Equity go up and down completely randomly.

Correlation Coefficient

0.01
Relationship DirectionPositive 
Relationship StrengthInsignificant

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.

Total Stockholder Equity

The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.
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 30th 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

0.230.580.570.980.64-0.49-0.61-0.14-0.270.580.96-0.250.660.320.020.460.530.420.640.590.6-0.14-0.290.140.52
0.230.120.060.15-0.040.510.23-0.640.080.040.130.450.440.70.54-0.150.10.52-0.040.40.57-0.060.220.260.71
0.580.120.990.5-0.15-0.43-0.770.02-0.320.940.46-0.130.650.01-0.20.251.00.55-0.150.60.21-0.09-0.41-0.150.32
0.570.060.990.5-0.14-0.5-0.80.09-0.340.920.46-0.140.62-0.05-0.260.20.990.5-0.140.560.17-0.09-0.45-0.150.29
0.980.150.50.50.72-0.58-0.650.01-0.190.470.98-0.260.550.2-0.120.420.450.240.720.480.64-0.15-0.390.160.43
0.64-0.04-0.15-0.140.72-0.34-0.110.090.04-0.170.79-0.5-0.010.120.010.3-0.2-0.111.0-0.090.43-0.22-0.090.280.06
-0.490.51-0.43-0.5-0.58-0.340.76-0.620.33-0.4-0.530.36-0.210.450.58-0.42-0.420.19-0.34-0.14-0.180.160.580.20.02
-0.610.23-0.77-0.8-0.65-0.110.76-0.390.18-0.75-0.570.22-0.460.250.53-0.23-0.77-0.08-0.11-0.42-0.240.050.770.13-0.06
-0.14-0.640.020.090.010.09-0.62-0.390.18-0.150.04-0.33-0.52-0.91-0.88-0.050.07-0.740.09-0.57-0.03-0.2-0.55-0.12-0.56
-0.270.08-0.32-0.34-0.190.040.330.180.18-0.41-0.16-0.05-0.43-0.16-0.15-0.4-0.29-0.390.04-0.410.030.050.0-0.02-0.31
0.580.040.940.920.47-0.17-0.4-0.75-0.15-0.410.4-0.090.780.15-0.040.330.910.65-0.170.750.070.0-0.35-0.220.36
0.960.130.460.460.980.79-0.53-0.570.04-0.160.4-0.360.440.16-0.110.370.410.220.790.330.61-0.26-0.360.240.35
-0.250.45-0.13-0.14-0.26-0.50.360.22-0.33-0.05-0.09-0.360.230.250.17-0.25-0.110.04-0.50.210.17-0.020.130.150.45
0.660.440.650.620.55-0.01-0.21-0.46-0.52-0.430.780.440.230.590.360.410.60.77-0.010.940.37-0.05-0.13-0.160.82
0.320.70.01-0.050.20.120.450.25-0.91-0.160.150.160.250.590.910.09-0.050.760.120.620.170.150.430.160.61
0.020.54-0.2-0.26-0.120.010.580.53-0.88-0.15-0.04-0.110.170.360.910.11-0.250.70.010.39-0.090.120.640.080.42
0.46-0.150.250.20.420.3-0.42-0.23-0.05-0.40.330.37-0.250.410.090.110.20.250.30.420.340.040.14-0.210.34
0.530.11.00.990.45-0.2-0.42-0.770.07-0.290.910.41-0.110.6-0.05-0.250.20.5-0.20.550.19-0.08-0.44-0.140.27
0.420.520.550.50.24-0.110.19-0.08-0.74-0.390.650.220.040.770.760.70.250.5-0.110.750.030.030.29-0.050.59
0.64-0.04-0.15-0.140.721.0-0.34-0.110.090.04-0.170.79-0.5-0.010.120.010.3-0.2-0.11-0.090.43-0.22-0.090.280.06
0.590.40.60.560.48-0.09-0.14-0.42-0.57-0.410.750.330.210.940.620.390.420.550.75-0.090.270.280.01-0.20.72
0.60.570.210.170.640.43-0.18-0.24-0.030.030.070.610.170.370.17-0.090.340.190.030.430.27-0.26-0.240.240.64
-0.14-0.06-0.09-0.09-0.15-0.220.160.05-0.20.050.0-0.26-0.02-0.050.150.120.04-0.080.03-0.220.28-0.260.37-0.11-0.19
-0.290.22-0.41-0.45-0.39-0.090.580.77-0.550.0-0.35-0.360.13-0.130.430.640.14-0.440.29-0.090.01-0.240.37-0.050.1
0.140.26-0.15-0.150.160.280.20.13-0.12-0.02-0.220.240.15-0.160.160.08-0.21-0.14-0.050.28-0.20.24-0.11-0.05-0.04
0.520.710.320.290.430.060.02-0.06-0.56-0.310.360.350.450.820.610.420.340.270.590.060.720.64-0.190.1-0.04
Click cells to compare fundamentals

NovaGold Resources Account Relationship Matchups

NovaGold Resources fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets224.4M198.9M159.2M133.3M153.3M145.6M
Short Long Term Debt Total110.4M116.1M124.6M137.5M158.2M82.5M
Other Current Liab2.4M3.5M3.7M3.0M3.5M3.3M
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 Assets1.3M25K1.3M1.1M1.3M1.7M
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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.