Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 5.1% - Here's Why

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM were down 5.1% during mid-day trading on Wednesday . The stock traded as low as $1.21 and last traded at $1.21. Approximately 2,893,085 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 3,669,502 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Northern Dynasty Minerals to a "sell" rating in a research report on Wednesday, May 21st.

Northern Dynasty Minerals Trading Down 0.8%

The firm has a market capitalization of $640.26 million, a PE ratio of -29.75 and a beta of 0.51. The business's 50 day simple moving average is $1.03 and its two-hundred day simple moving average is $0.71.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of hedge funds have recently added to or reduced their stakes in NAK. Wealth Alliance LLC raised its holdings in Northern Dynasty Minerals by 32.1% in the 1st quarter. Wealth Alliance LLC now owns 45,225 shares of the mining company's stock worth $52,000 after purchasing an additional 11,000 shares during the period. Game Plan Financial Advisors LLC raised its holdings in Northern Dynasty Minerals by 29.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company's stock worth $45,000 after purchasing an additional 18,000 shares during the period. Cubist Systematic Strategies LLC bought a new position in Northern Dynasty Minerals in the 1st quarter worth $25,000. SBI Securities Co. Ltd. raised its holdings in Northern Dynasty Minerals by 571.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 27,073 shares of the mining company's stock worth $31,000 after purchasing an additional 23,042 shares during the period. Finally, Allworth Financial LP bought a new position in Northern Dynasty Minerals in the 1st quarter worth $28,000. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

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.