LONDON, February 24, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings review on NOVAGOLD Resources Inc. (NYSEMKT: NG). On January 28, 2015, the company reported its full-year FY14 financial results (period ended November 30, 2014) and project update for its flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek copper-gold-silver project in British Columbia. Click on http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG to read our free earnings review on NOVAGOLD Resources Inc. (NovaGold). During FY14, the company's loss from operations narrowed by $17.8 million Y-o-Y, and its loss per basic and diluted share lowered by 7 cents from full-year FY13. President and CEO of NovaGold, Gregory A. Lang, stated that the company had made excellent progress in 2014; setting the stage to continue to advance Donlin Gold up the value chain. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG
Earnings Overview
During FY14, NovaGold's loss from operations decreased to $38.01 million from $55.78 million in FY13. The reported decrease in loss from operations is primarily attributable to lower general and administrative expense and lower losses from the company's equity investment in the Donlin Gold and Galore Creek projects. NovaGold's general and administrative expense decreased by $4.95 million to $22.05 million in FY14 from $26.99 million in FY13, on account of lower share-based compensation, office rent and professional fees. Free research on NG can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG
During FY14, NovaGold's net loss narrowed to $40.48 million, or $0.13 loss per share, from $62.76 million, or $0.20 loss per share in the previous year. Analysts from Bloomberg had expected the company to report net loss of $40.22 million or $0.13 loss per share in the year. The company's net loss decreased due to the reduction in the loss from operations.
In FY14, Donlin Gold moved beyond the half-way mark in the permitting process, as the Army Corps of Engineers completed the initial draft of the Environmental Impact Statement. The company extended Donlin Gold Surface Use Agreement with The Kuskokwim Corporation which now coincides with Calista Corporation's Exploration and Mining Lease and covers the entire projected mine life. It also launched a collaborative effort with the National Fish and Wildlife Foundation's Alaska Fish and Wildlife Fund to protect, conserve and restore Alaska's fish and wildlife. Sign up and read the free analyst's notes on NG at:
http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG
As of November 30, 2014, NovaGold had $165.33 million in cash and term deposits, compared to $191.26 million as of November 30, 2013.
In its outlook for FY15, NovaGold expects to spend approximately $44.8 million. The expenditure will include $15.8 million towards repayment of principal on the remaining convertible notes, $12.6 million to fund expenditures at the Donlin Gold project, as well as to maintain engagement with the stakeholder groups in the Yukon-Kuskokwim region, $1.6 million to fund expenditures at the Galore Creek project, and $14.8 million for general and administrative costs, interest, and joint Donlin Gold studies with Barrick ($1.5 million for 50% share). Visit Investor-Edge and access the latest research on NG at:
http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG
Stock Performance
On the day following the earnings release, January 29, 2015, shares of NovaGold ended the session at $3.51, down 1.40%. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Monday, February 23, 2015, the company's shares finished at $3.65, which is 1.62% below its previous day's closing price of $3.71. The stock vacillated between $3.61 and $3.79 during the session. A total of 1.60 million shares were traded which was below its three months average volume of 2.96 million shares. Over the last one month and previous three months, the company's shares have gained 3.11% and 27.18%, respectively. Additionally, the stock has advanced 1.96% over the past one year. Shares in NovaGold are trading above their 50-day and 200-day moving averages of $3.44 and $3.40, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 49.15.
Sneak Peek to Corporate Insider Trading
In the last one month, NovaGold has reported three transactions by one insider. On February 10, 2015, Gillyeard J. Leathley, Director at NovaGold, bought 159,050 shares at a price of $2.90 per share and for a total value of $461,245, and on the same day, he disposed 92,081 shares, worth $461,326, at an average price of $5.01 per share. Complimentary in-depth research on NG is available at:
http://get.Investor-Edge.com/pdf/?c=NovaGold%20Resources&d=24-Feb-2015&s=NG
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