Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Up 5.9% - Here's Why

Key Points

• Northern Dynasty Minerals shares rose by 5.9%, trading at $2.08 after hitting a high of $2.17 on increased volume of nearly 17 million shares.
• HC Wainwright upgraded the stock's target price from $1.30 to $2.50 with a "buy" rating, contributing to its current rating of "Strong Buy".
• Institutional investors have recently increased their stakes, with MIRAE ASSET GLOBAL ETFS HOLDINGS acquiring a near $17 million stake in the company.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's stock price shot up 5.9% during trading on Friday . The company traded as high as $2.17 and last traded at $2.08. 16,925,245 shares were traded during mid-day trading, an increase of 79% from the average session volume of 9,452,225 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted 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 equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of $2.50.

Northern Dynasty Minerals Stock Up 8.4%

The business's 50-day simple moving average is $0.99 and its 200-day simple moving average is $1.12. The stock has a market cap of $1.17 billion, a PE ratio of -19.59 and a beta of -0.60.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of large investors have recently modified their holdings of NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Northern Dynasty Minerals during the 2nd quarter valued at about $17,117,000. GAM Holding AG bought a new stake in shares of Northern Dynasty Minerals during the 2nd quarter valued at about $3,752,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Northern Dynasty Minerals by 100.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company's stock valued at $1,983,000 after purchasing an additional 735,300 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Northern Dynasty Minerals by 232.7% during the 2nd quarter. XTX Topco Ltd now owns 636,134 shares of the mining company's stock valued at $852,000 after purchasing an additional 444,950 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Northern Dynasty Minerals during the 1st quarter valued at about $460,000. 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.

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