Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 7.4% - What's Next?

Key Points

• Northern Dynasty Minerals' stock price decreased by 7.4%, closing at $2.56 after trading as low as $2.50, with significantly increased trading volume of over 41 million shares.
• Despite the recent drop, analysts at HC Wainwright have set a target price of $2.50, maintaining a "buy" rating for the stock, which has an average rating of "Strong Buy".
• Institutional investors have been actively buying shares, with several firms increasing their stakes and the total institutional ownership now at about 10.55% of the company's stock.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's stock price fell 7.4% on Wednesday . The company traded as low as $2.50 and last traded at $2.56. 41,481,181 shares changed hands during mid-day trading, an increase of 302% from the average session volume of 10,323,820 shares. The stock had previously closed at $2.76.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their target price on shares of Northern Dynasty Minerals from $1.30 to $2.50 and gave the company a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, Northern Dynasty Minerals presently has an average rating of "Strong Buy" and an average target price of $2.50.

Northern Dynasty Minerals Trading Down 4.3%

The company has a market cap of $1.46 billion, a PE ratio of -24.00 and a beta of -0.60. The firm's 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.15.

Institutional Trading of Northern Dynasty Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Northern Dynasty Minerals by 37.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,320 shares of the mining company's stock valued at $26,000 after purchasing an additional 5,000 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Northern Dynasty Minerals in the 1st quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new position in Northern Dynasty Minerals during the 2nd quarter worth approximately $31,000. Allworth Financial LP acquired a new stake in Northern Dynasty Minerals during the 1st quarter valued at approximately $28,000. Finally, Allium Financial Advisors LLC acquired a new stake in Northern Dynasty Minerals during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds 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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