Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Northern Dynasty Minerals experienced a significant increase in trading volume, with approximately 22.3 million shares traded, a 147% rise from the previous session.
• HC Wainwright raised their price target for the stock from $1.30 to $2.50 and assigned a "buy" rating, contributing to a consensus rating of "Strong Buy."
• Institutional investors have increased their stakes in Northern Dynasty Minerals, with multiple firms acquiring new positions in the first quarter, indicating growing interest in the company.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares saw unusually-high trading volume on Tuesday . Approximately 22,313,278 shares changed hands during trading, an increase of 147% from the previous session's volume of 9,041,082 shares.The stock last traded at $1.87 and had previously closed at $1.51.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their price target on Northern Dynasty Minerals from $1.30 to $2.50 and gave the stock a "buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Performance

The stock has a market capitalization of $962.25 million, a price-to-earnings ratio of -16.05 and a beta of -0.60. The company has a fifty day simple moving average of $0.92 and a two-hundred day simple moving average of $1.10.

Hedge Funds Weigh In On Northern Dynasty Minerals

Institutional investors have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in shares of Northern Dynasty Minerals during the 1st quarter worth $80,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Northern Dynasty Minerals during the 1st quarter worth $823,000. Two Sigma Investments LP acquired a new position in shares of Northern Dynasty Minerals during the 4th quarter worth $218,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Northern Dynasty Minerals during the 1st quarter worth $460,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Northern Dynasty Minerals during the 1st quarter worth $56,000. Institutional investors and hedge funds own 10.55% of the company's stock.

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.

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