Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Northern Dynasty Minerals' share price surpassed its 200-day moving average of $1.11, trading as high as $2.04, and finishing the day at $1.95 with significant trading volume of over 33 million shares.
• HC Wainwright upgraded the stock's price target from $1.30 to $2.50, affirming a "buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• Institutional investors have shown increased interest, with numerous hedge funds boosting their stakes; they collectively own 10.55% of the company's stock.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.11 and traded as high as $2.04. Northern Dynasty Minerals shares last traded at $1.95, with a volume of 33,049,868 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their price objective on shares of Northern Dynasty Minerals from $1.30 to $2.50 and gave the company a "buy" rating in a 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average price target of $2.50.

Northern Dynasty Minerals Price Performance

The stock has a market capitalization of $1.08 billion, a P/E ratio of -17.73 and a beta of -0.60. The stock's fifty day moving average is $0.96 and its two-hundred day moving average is $1.11.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 during the period. Smith Anglin Financial LLC boosted 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 purchasing an additional 10,000 shares during the period. Wealth Alliance LLC boosted 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 purchasing an additional 11,000 shares during the period. Kingsview Wealth Management LLC boosted 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 purchasing an additional 15,000 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Northern Dynasty Minerals by 121.0% in the 2nd 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 during the period. Institutional investors and hedge funds 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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