Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 5.9% - Here's Why

Key Points

• Shares of Northern Dynasty Minerals fell about 5.9% intraday to $1.525 (prior close $1.62) with mid-day volume near 3.999M shares, down roughly 62% from the average session volume.
• HC Wainwright reiterated a Buy rating with a $2.50 price target, and the consensus analyst view on the stock is a Buy with a $2.50 target.
• Several institutional investors — including Millennium Management, MIRAE Asset Global and Wexford Capital — materially increased stakes recently, and institutions now own about 10.55% of the company.

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $1.50 and last traded at $1.5250. 3,999,958 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 10,626,030 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One equities 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 a consensus price target of $2.50.

Northern Dynasty Minerals Stock Down 5.2%

The firm has a 50 day simple moving average of $1.61 and a two-hundred day simple moving average of $1.79. The stock has a market capitalization of $859.58 million, a P/E ratio of -10.23 and a beta of 0.22.

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. acquired a new stake in shares of Northern Dynasty Minerals in the 2nd quarter valued at $17,117,000. Millennium Management LLC boosted its holdings in shares of Northern Dynasty Minerals by 203.3% in the 4th quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company's stock valued at $26,318,000 after purchasing an additional 8,957,529 shares in the last quarter. Bornite Capital Management LP acquired a new stake in shares of Northern Dynasty Minerals in the 4th quarter valued at $10,608,000. Wexford Capital LP boosted its holdings in shares of Northern Dynasty Minerals by 423.8% in the 3rd quarter. Wexford Capital LP now owns 2,978,971 shares of the mining company's stock valued at $3,575,000 after purchasing an additional 2,410,269 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Northern Dynasty Minerals in the 3rd quarter valued at $2,444,000. Institutional investors and hedge funds 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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