Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up - Time to Buy?

Key Points

• Northern Dynasty Minerals shares gapped up from $1.06 to $1.19 before trading, with the last recorded price at $1.11 and a trading volume of 4,665,224 shares.
• HC Wainwright upgraded the stock's price target from $1.30 to $2.50, and the consensus rating for the stock is a "Strong Buy."
• Recent institutional investments included a significant 571.6% increase in stake by SBI Securities Co. Ltd., reflecting growing interest in the company.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price gapped up prior to trading on Friday . The stock had previously closed at $1.06, but opened at $1.19. Northern Dynasty Minerals shares last traded at $1.11, with a volume of 4,665,224 shares changing hands.

Analyst Ratings Changes

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

Northern Dynasty Minerals Stock Performance

The stock's 50-day simple moving average is $0.87 and its 200-day simple moving average is $1.07. The firm has a market capitalization of $620.72 million, a PE ratio of -10.23 and a beta of -0.61.

Institutional Trading of Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Northern Dynasty Minerals in the 1st quarter worth about $25,000. Wealth Enhancement Advisory Services LLC boosted 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. Allworth Financial LP bought a new position in Northern Dynasty Minerals in the 1st quarter worth about $28,000. Allium Financial Advisors LLC bought a new position in Northern Dynasty Minerals in the 1st quarter worth about $29,000. Finally, SBI Securities Co. Ltd. boosted its stake in 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 worth $31,000 after purchasing an additional 23,042 shares in the last quarter. 10.55% of the stock is owned by hedge funds and other institutional investors.

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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