Russell Investments Group Ltd. Sells 320,292 Shares of Northern Dynasty Minerals, Ltd. $NAK

Key Points

• Russell Investments Group Ltd. reduced its holdings in Northern Dynasty Minerals by 5.1%, now owning 6,020,430 shares worth approximately $6.9 million.
• Several hedge funds have increased their positions in Northern Dynasty, with BNP Paribas Financial Markets boosting its stake by 164.8% in the last quarter.
• Analysts have set a new average price target of $2.50 for Northern Dynasty Minerals, with some rating the stock as a "Strong Buy."

Russell Investments Group Ltd. cut its position in shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Free Report) TSE: NDM by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,020,430 shares of the mining company's stock after selling 320,292 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.12% of Northern Dynasty Minerals worth $6,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in Northern Dynasty Minerals by 164.8% during the fourth quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company's stock worth $1,890,000 after purchasing an additional 2,022,304 shares during the last quarter. Cerity Partners LLC purchased a new position in Northern Dynasty Minerals during the first quarter worth about $80,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Northern Dynasty Minerals during the first quarter worth about $823,000. Two Sigma Investments LP purchased a new position in Northern Dynasty Minerals during the fourth quarter worth about $218,000. Finally, Tidal Investments LLC purchased a new position in Northern Dynasty Minerals during the fourth quarter worth about $143,000. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

Northern Dynasty Minerals Trading Up 2.8%

Shares of NYSEAMERICAN NAK traded up $0.02 during midday trading on Tuesday, hitting $0.90. The company's stock had a trading volume of 3,841,586 shares, compared to its average volume of 6,499,343. The stock has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.02. Northern Dynasty Minerals, Ltd. has a one year low of $0.30 and a one year high of $2.40. The firm has a market capitalization of $496.13 million, a price-to-earnings ratio of -8.17 and a beta of -0.77.

Analysts Set New Price Targets

Several research firms recently weighed in on NAK. Wall Street Zen upgraded shares of Northern Dynasty Minerals to a "sell" rating in a report on Wednesday, May 21st. HC Wainwright boosted their target price on shares of Northern Dynasty Minerals from $1.30 to $2.50 and gave the company a "buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Strong Buy" and an average price target of $2.50.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, the United States.