Novagold Resources (TSX:NG) Debt-to-Asset : 1.11 (As of Feb. 2024)

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What is Novagold Resources Debt-to-Asset?

Novagold Resources's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Feb. 2024 was C$0.25 Mil. Novagold Resources's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Feb. 2024 was C$190.24 Mil. Novagold Resources's Long-Term Debt & Capital Lease ObligationTotal Assets for the quarter that ended in Feb. 2024 was C$171.29 Mil. Novagold Resources's debt to asset for the quarter that ended in Feb. 2024 was 1.11.

Novagold Resources Debt-to-Asset Historical Data

The historical data trend for Novagold Resources's Debt-to-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Novagold Resources Debt-to-Asset Chart

Novagold Resources Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

Debt-to-Asset

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0.42

0.49

0.58

0.78

1.03

Novagold Resources Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Debt-to-Asset	Get a 7-Day Free Trial															0.84	0.92	0.97	1.03	1.11

Competitive Comparison of Novagold Resources's Debt-to-Asset

For the Gold subindustry, Novagold Resources's Debt-to-Asset, along with its competitors' market caps and Debt-to-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Novagold Resources's Debt-to-Asset Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Novagold Resources's Debt-to-Asset distribution charts can be found below:

* The bar in red indicates where Novagold Resources's Debt-to-Asset falls into.

Novagold Resources Debt-to-Asset Calculation

Debt to Asset measures the financial leverage a company has.

Novagold Resources's Debt-to-Asset for the fiscal year that ended in Nov. 2023 is calculated as

Debt-to-Asset	=	Total Debt			/	Total Assets
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Assets
	=	(0.263	+	188.275)	/	182.701
	=	1.03

Novagold Resources's Debt-to-Asset for the quarter that ended in Feb. 2024 is calculated as

Debt-to-Asset	=	Total Debt			/	Total Assets
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Assets
	=	(0.246	+	190.239)	/	171.293
	=	1.11

Novagold Resources (TSX:NG) Debt-to-Asset Explanation

In the calculation of Debt-to-Asset, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Assets.

Novagold Resources Debt-to-Asset Related Terms

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Novagold Resources (TSX:NG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Novagold Resources Inc (TSX:NG) » Definitions » Debt-to-Asset

Comparable Companies

Traded in Other Exchanges

NG:USA NGR:Germany NG:Argentina

Address

201 South Main Street, Suite 400, Salt Lake City, UT, USA, 84111

Website

https://www.novagold.com

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometers north of the village of Crooked Creek on the Kuskokwim River.