Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Up 8.4% - Here's Why

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares shot up 8.4% during mid-day trading on Wednesday . The company traded as high as $0.99 and last traded at $0.95. 2,207,014 shares traded hands during trading, a decline of 64% from the average session volume of 6,078,420 shares. The stock had previously closed at $0.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NAK shares. Wall Street Zen raised Northern Dynasty Minerals to a "sell" rating in a research report on Wednesday, May 21st. HC Wainwright raised their price objective on Northern Dynasty Minerals from $1.30 to $2.50 and gave the company a "buy" rating in a research report on Monday, July 7th.

Northern Dynasty Minerals Stock Up 1.7%

The firm has a 50-day moving average of $1.35 and a two-hundred day moving average of $0.96. The company has a market capitalization of $481.76 million, a PE ratio of -8.90 and a beta of -0.69.

Institutional Trading of Northern Dynasty Minerals

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Northern Dynasty Minerals by 164.8% in the fourth quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company's stock worth $1,890,000 after acquiring an additional 2,022,304 shares during the last quarter. Dauntless Investment Group LLC acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth approximately $1,233,000. Wells Fargo & Company MN boosted its stake in shares of Northern Dynasty Minerals by 8.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company's stock worth $592,000 after acquiring an additional 78,554 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Northern Dynasty Minerals in the first quarter worth approximately $823,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in shares of Northern Dynasty Minerals in the first quarter worth approximately $460,000. 10.55% of the stock is owned by institutional investors and hedge funds.

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.