Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up - Still a Buy?

Key Points

• Northern Dynasty Minerals shares increased by 17.5%, opening at $2.20 after closing at $2.03, with a last traded price of $2.33.
• HC Wainwright raised the stock's price target to $2.50 and maintained a "buy" rating, contributing to the consensus rating of "Strong Buy" among analysts.
• Hedge funds have been actively increasing their stakes in Northern Dynasty Minerals, with notable increases from firms such as Kingsview Wealth Management and Ballentine Partners, indicating growing institutional interest.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares gapped up before the market opened on Monday . The stock had previously closed at $2.03, but opened at $2.20. Northern Dynasty Minerals shares last traded at $2.33, with a volume of 12,758,378 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright upped their price objective on shares of Northern Dynasty Minerals from $1.30 to $2.50 and gave the stock 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 issued a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Up 17.5%

The stock has a market capitalization of $1.32 billion, a PE ratio of -21.77 and a beta of -0.60. The firm's fifty day moving average price is $1.01 and its two-hundred day moving average price is $1.12.

Institutional Trading of Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of NAK. Wealth Enhancement Advisory Services LLC increased its stake in shares of Northern Dynasty Minerals by 37.5% in the second 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 increased 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 buying an additional 10,000 shares in the last quarter. Wealth Alliance LLC increased 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 buying an additional 11,000 shares in the last quarter. Kingsview Wealth Management LLC increased 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 buying an additional 15,000 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Northern Dynasty Minerals by 121.0% during the second 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.

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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