Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Large Volume Increase - Should You Buy?

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM saw unusually-strong trading volume on Wednesday . Approximately 8,160,962 shares changed hands during trading, an increase of 66% from the previous session's volume of 4,923,623 shares.The stock last traded at $2.18 and had previously closed at $2.16.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NAK shares. HC Wainwright lifted their price target on shares of Northern Dynasty Minerals from $1.30 to $2.50 and gave the company a "buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded shares of Northern Dynasty Minerals to a "sell" rating in a research report on Wednesday, May 21st.

Northern Dynasty Minerals Price Performance

The company's 50-day simple moving average is $1.35 and its 200-day simple moving average is $0.94. The stock has a market capitalization of $560.97 million, a P/E ratio of -10.40 and a beta of -0.69.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several institutional investors and hedge funds have recently modified their holdings of NAK. BNP Paribas Financial Markets grew its stake 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 buying an additional 2,022,304 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Northern Dynasty Minerals during the fourth quarter worth about $218,000. Tidal Investments LLC acquired a new stake in Northern Dynasty Minerals during the fourth quarter worth about $143,000. Wells Fargo & Company MN grew its stake in Northern Dynasty Minerals by 8.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company's stock worth $592,000 after buying an additional 78,554 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Northern Dynasty Minerals during the fourth quarter worth about $44,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

Northern Dynasty Minerals Company Profile

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.