Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 7.3% - What's Next?

Key Points

• Northern Dynasty Minerals shares fell 7.3% in mid-day trading, with the stock trading as low as $1.59 before last changing hands at $1.5850.
• Despite the pullback, HC Wainwright reiterated a Buy rating and kept a $2.50 price target, matching the broader consensus view from analysts.
• The company recently beat quarterly EPS estimates, reporting $0.01 per share versus expectations of a $0.01 loss, while institutional investors remain involved though they own only 10.55% of the stock.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM dropped 7.3% during mid-day trading on Friday . The company traded as low as $1.59 and last traded at $1.5850. Approximately 1,070,171 shares traded hands during trading, a decline of 88% from the average daily volume of 8,961,693 shares. The stock had previously closed at $1.71.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a "buy" rating and set a $2.50 target price on shares of Northern Dynasty Minerals in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2.50.

Northern Dynasty Minerals Stock Performance

The company has a 50 day moving average of $1.94 and a 200 day moving average of $1.85. The stock has a market capitalization of $890.96 million, a price-to-earnings ratio of -17.50 and a beta of 0.67.

Northern Dynasty Minerals (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM last issued its earnings results on Friday, May 15th. The mining company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. On average, equities analysts predict that Northern Dynasty Minerals, Ltd. will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Northern Dynasty Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of Northern Dynasty Minerals in the 1st quarter worth approximately $6,244,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Northern Dynasty Minerals in the first quarter valued at $161,000. Kopernik Global Investors LLC raised its holdings in shares of Northern Dynasty Minerals by 50.8% in the 1st quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company's stock valued at $45,718,000 after buying an additional 10,994,668 shares during the period. Swiss National Bank acquired a new position in Northern Dynasty Minerals during the 1st quarter worth about $1,532,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Northern Dynasty Minerals by 81.0% in the first quarter. Sequoia Financial Advisors LLC now owns 22,251 shares of the mining company's stock worth $31,000 after acquiring an additional 9,955 shares in the last quarter. 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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