Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading 13.3% Higher - Here's What Happened

Key Points

• Northern Dynasty Minerals shares surged by 13.3%, reaching a trading price of $1.06, although volume decreased to 3.1 million shares, down 64% from the average.
• HC Wainwright upgraded the company's target price to $2.50 with a "buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• Significant institutional investments included a new position from MIRAE ASSET GLOBAL valued at approximately $17 million, highlighting growing interest in the stock.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares traded up 13.3% during mid-day trading on Wednesday . The company traded as high as $1.05 and last traded at $1.06. 3,114,906 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 8,603,498 shares. The stock had previously closed at $0.93.

Wall Street Analyst Weigh In

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

Northern Dynasty Minerals Price Performance

The company's 50 day moving average is $0.91 and its two-hundred day moving average is $1.07. The firm has a market cap of $604.17 million, a P/E ratio of -9.95 and a beta of -0.61.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Northern Dynasty Minerals in the second quarter valued at approximately $17,117,000. GAM Holding AG bought a new position in Northern Dynasty Minerals in the 2nd quarter worth approximately $3,752,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Northern Dynasty Minerals by 100.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company's stock worth $1,983,000 after purchasing an additional 735,300 shares during the last quarter. XTX Topco Ltd raised its position in Northern Dynasty Minerals by 232.7% in the 2nd quarter. XTX Topco Ltd now owns 636,134 shares of the mining company's stock worth $852,000 after purchasing an additional 444,950 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new position in Northern Dynasty Minerals in the 1st quarter worth approximately $460,000. Institutional investors 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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