Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up - Should You Buy?

Key Points

• Northern Dynasty Minerals' shares experienced a significant increase, opening at $1.47 after closing at $1.32, and last traded at $1.60 with a trading volume of 15,809,538 shares.
• HC Wainwright has 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" among analysts.
• A number of institutional investors have increased their stakes in Northern Dynasty Minerals, with significant purchases indicating growing interest in the company.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price gapped up before the market opened on Monday . The stock had previously closed at $1.32, but opened at $1.47. Northern Dynasty Minerals shares last traded at $1.60, with a volume of 15,809,538 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on 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 company. According to MarketBeat.com, the stock has an average rating of "Strong Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Performance

The stock has a market cap of $846.94 million, a PE ratio of -13.95 and a beta of -0.60. The firm has a 50-day moving average price of $0.91 and a 200-day moving average price of $1.10.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in 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 purchasing an additional 5,000 shares in the last quarter. Smith Anglin Financial LLC lifted its stake in Northern Dynasty Minerals by 8.0% in the 2nd quarter. Smith Anglin Financial LLC now owns 135,000 shares of the mining company's stock worth $181,000 after purchasing an additional 10,000 shares in the last quarter. Wealth Alliance LLC lifted its stake 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 in the last quarter. Kingsview Wealth Management LLC lifted its stake in Northern Dynasty Minerals by 85.6% in the 2nd quarter. Kingsview Wealth Management LLC now owns 32,525 shares of the mining company's stock worth $44,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Northern Dynasty Minerals by 121.0% in the 2nd quarter. Ballentine Partners LLC now owns 28,237 shares of the mining company's stock worth $38,000 after purchasing an additional 15,459 shares in the last quarter. 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.

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.