Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down - What's Next?

Key Points

• Northern Dynasty Minerals shares gapped down from $2.24 to $1.96, with last trades at $2.06 on high volume, indicating notable market volatility.
• HC Wainwright upgraded the stock's target price from $1.30 to $2.50 and assigned a "buy" rating, contributing to a consensus rating of "Strong Buy."
• Institutional investors have increased their positions in Northern Dynasty Minerals, with notable purchases and changes by firms such as Cubist Systematic Strategies and Wealth Enhancement Advisory Services.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's stock price gapped down before the market opened on Friday . The stock had previously closed at $2.24, but opened at $1.96. Northern Dynasty Minerals shares last traded at $2.06, with a volume of 12,767,421 shares traded.

Analyst Ratings Changes

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

Northern Dynasty Minerals Trading Down 6.4%

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -19.05 and a beta of -0.60. The firm has a 50-day moving average price of $1.16 and a 200-day moving average price of $1.16.

Institutional Trading of Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in NAK. Cubist Systematic Strategies LLC bought a new position in shares of Northern Dynasty Minerals in the first quarter worth about $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 worth $26,000 after acquiring an additional 5,000 shares in the last quarter. Allworth Financial LP acquired a new position in Northern Dynasty Minerals during the 1st quarter worth $28,000. Allium Financial Advisors LLC bought a new stake in shares of Northern Dynasty Minerals in the 1st quarter valued at $29,000. Finally, SBI Securities Co. Ltd. increased its holdings in Northern Dynasty Minerals by 571.6% during 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 in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.