Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down - Here's What Happened

Key Points

• Northern Dynasty Minerals shares gapped down from a previous close of $1.88 to open at $1.82, and last traded at $1.85 with a volume of 7,257,300 shares.
• HC Wainwright raised the price target for Northern Dynasty Minerals from $1.30 to $2.50 and assigned a "buy" rating, contributing to a consensus "Strong Buy" rating for the stock.
• Institutional investors have increased their stake in Northern Dynasty Minerals, with notable increases in holdings from firms like Wealth Enhancement Advisory Services and SBI Securities, reflecting growing investor interest.

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM gapped down prior to trading on Wednesday . The stock had previously closed at $1.88, but opened at $1.82. Northern Dynasty Minerals shares last traded at $1.85, with a volume of 7,257,300 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Trading Up 8.2%

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -18.32 and a beta of -0.60. The firm's fifty day simple moving average is $0.94 and its 200 day simple moving average is $1.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Northern Dynasty Minerals in the 1st quarter valued at $25,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Northern Dynasty Minerals by 37.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,320 shares of the mining company's stock valued at $26,000 after buying an additional 5,000 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Northern Dynasty Minerals in the 1st quarter valued at $28,000. Allium Financial Advisors LLC acquired a new position in shares of Northern Dynasty Minerals in the 1st quarter valued at $29,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of 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 valued at $31,000 after buying an additional 23,042 shares in the last quarter. Institutional investors and hedge funds own 10.55% of the company's stock.

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.

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