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

Key Points

• Shares gapped up premarket from $1.49 to $1.57 and last traded at $1.5950 on a volume of about 3.71 million shares.
• HC Wainwright reiterated a Buy rating with a $2.50 price target, and the consensus analyst view on MarketBeat is an average Buy with the same $2.50 target.
• The company has a market capitalization near $901 million and a negative P/E, institutional ownership of roughly 10.55%, and its flagship asset is the Pebble Project.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's stock price gapped up before the market opened on Monday . The stock had previously closed at $1.49, but opened at $1.57. Northern Dynasty Minerals shares last traded at $1.5950, with a volume of 3,711,397 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $2.50.

Northern Dynasty Minerals Stock Performance

The firm has a 50-day moving average of $1.63 and a 200-day moving average of $1.78. The firm has a market capitalization of $901.02 million, a P/E ratio of -10.63 and a beta of 0.22.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Brookstone Capital Management purchased a new stake in Northern Dynasty Minerals during the 4th quarter valued at $26,000. Merit Financial Group LLC purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth about $26,000. Investment Planning Advisors Inc. bought a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth about $26,000. Kovack Advisors Inc. bought a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth about $27,000. Finally, Webster Bank N. A. purchased a new position in Northern Dynasty Minerals during the 4th quarter valued at about $30,000. 10.55% of the stock is owned by hedge funds and other institutional investors.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company's flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.