Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Northern Dynasty Minerals (NAK) passed above its 200-day moving average (200‑day MA $1.82), trading as high as $2.025 and last at $2.00 on volume of 14,763,045 shares.
• HC Wainwright reiterated a Buy rating with a $2.50 price target, and MarketBeat's consensus rating for NAK is also Buy with a $2.50 consensus price target.
• Several institutional investors increased positions (GAM Holding, CenterBook, TD Asset Management among others), institutions own 10.55% of the stock, and the company has a market cap of $1.12 billion with its flagship Pebble Project in Alaska.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.82 and traded as high as $2.0250. Northern Dynasty Minerals shares last traded at $2.00, with a volume of 14,763,045 shares changing hands.

Analyst Ratings Changes

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

Northern Dynasty Minerals Stock Up 4.7%

The firm has a market cap of $1.12 billion, a P/E ratio of -13.33 and a beta of 0.22. The business has a fifty day moving average of $1.55 and a 200 day moving average of $1.82.

Hedge Funds Weigh In On Northern Dynasty Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAM Holding AG grew its holdings in Northern Dynasty Minerals by 23.9% during the third quarter. GAM Holding AG now owns 3,469,100 shares of the mining company's stock worth $4,163,000 after purchasing an additional 669,100 shares during the period. CenterBook Partners LP bought a new position in Northern Dynasty Minerals during the third quarter worth about $2,444,000. TD Asset Management Inc bought a new position in Northern Dynasty Minerals during the third quarter worth about $839,000. Range Financial Group LLC grew its holdings in Northern Dynasty Minerals by 400.0% during the third quarter. Range Financial Group LLC now owns 50,000 shares of the mining company's stock worth $60,000 after purchasing an additional 40,000 shares during the period. Finally, Advance Capital Management Inc. bought a new position in Northern Dynasty Minerals during the third quarter worth about $27,000. Institutional investors own 10.55% of the company's stock.

Northern Dynasty Minerals Company Profile

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.

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