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

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM gapped down prior to trading on Friday . The stock had previously closed at $1.63, but opened at $0.88. Northern Dynasty Minerals shares last traded at $0.97, with a volume of 70,567,198 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NAK shares. Wall Street Zen upgraded Northern Dynasty Minerals to a "sell" rating in a report on Wednesday, May 21st. HC Wainwright boosted their price target on Northern Dynasty Minerals from $1.30 to $2.50 and gave the stock a "buy" rating in a research report on Monday, July 7th.

Northern Dynasty Minerals Stock Performance

The business's 50-day moving average price is $1.35 and its 200 day moving average price is $0.93. The stock has a market capitalization of $535.07 million, a PE ratio of -9.81 and a beta of -0.69.

Institutional Investors Weigh In On Northern Dynasty Minerals

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Northern Dynasty Minerals by 164.8% during the 4th quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company's stock valued at $1,890,000 after purchasing an additional 2,022,304 shares during the period. Two Sigma Investments LP bought a new stake in Northern Dynasty Minerals in the 4th quarter valued at $218,000. Tidal Investments LLC bought a new stake in Northern Dynasty Minerals in the 4th quarter valued at $143,000. Wells Fargo & Company MN increased its holdings in Northern Dynasty Minerals by 8.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company's stock valued at $592,000 after acquiring an additional 78,554 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Northern Dynasty Minerals in the 4th quarter worth about $44,000. Hedge funds and other institutional investors 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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