Northern Dynasty Minerals (NASDAQ:NAK) Stock Price Down 9.4% - Should You Sell?

Key Points

• Northern Dynasty Minerals shares fell 9.4%, trading as low as $1.83, with a substantial decrease in trading volume compared to the average.
• Despite the drop in stock price, analysts from HC Wainwright have maintained a buy rating with a price target of $2.50, indicating potential upside.
• Recent changes in institutional ownership include GAM Holding AG increasing its stake by 23.9% during the third quarter, highlighting ongoing investor interest.

Shares of Northern Dynasty Minerals Ltd (NASDAQ:NAK - Get Free Report) fell 9.4% on Monday . The company traded as low as $1.83 and last traded at $1.85. 4,546,143 shares changed hands during trading, a decline of 58% from the average session volume of 10,790,690 shares. The stock had previously closed at $2.04.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a research report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Northern Dynasty Minerals currently has an average rating of "Buy" and a consensus price target of $2.50.

Northern Dynasty Minerals Trading Down 6.6%

The firm has a market capitalization of $1.05 billion, a P/E ratio of -17.32 and a beta of -0.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAM Holding AG grew its holdings in Northern Dynasty Minerals by 23.9% during the 3rd quarter. GAM Holding AG now owns 3,469,100 shares of the company's stock worth $4,163,000 after acquiring an additional 669,100 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Northern Dynasty Minerals during the 3rd quarter worth about $228,000. Kiker Wealth Management LLC grew its holdings in Northern Dynasty Minerals by 30.4% during the 3rd quarter. Kiker Wealth Management LLC now owns 188,312 shares of the company's stock worth $226,000 after acquiring an additional 43,883 shares in the last quarter. Brookwood Investment Group LLC bought a new position in Northern Dynasty Minerals during the 3rd quarter worth about $63,000. Finally, Range Financial Group LLC grew its holdings in Northern Dynasty Minerals by 400.0% during the 3rd quarter. Range Financial Group LLC now owns 50,000 shares of the company's stock worth $60,000 after acquiring an additional 40,000 shares in the last quarter. 10.55% of the stock is currently owned by institutional investors.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is 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, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage.

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