Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 4.6% - Here's Why

Key Points

• Northern Dynasty Minerals' (NAK) share price fell by 4.6% to $1.15 on Wednesday, with trading volume down 78% compared to its average.
• HC Wainwright raised its price target for the stock from $1.30 to $2.50 and maintained a "buy" rating, indicating a positive outlook from analysts.
• Institutional investors and hedge funds own 10.55% of Northern Dynasty Minerals, with several recent changes in their positions suggesting increased interest.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price was down 4.6% on Wednesday . The stock traded as low as $1.14 and last traded at $1.15. Approximately 1,893,040 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 8,753,193 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Stock Down 1.2%

The firm has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.08. The firm has a market capitalization of $653.82 million, a PE ratio of -10.77 and a beta of -0.61.

Institutional Trading of Northern Dynasty Minerals

Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Northern Dynasty Minerals in the first quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Northern Dynasty Minerals by 37.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,320 shares of the mining company's stock worth $26,000 after acquiring an additional 5,000 shares during the period. Allworth Financial LP purchased a new position in Northern Dynasty Minerals in the first quarter valued at $28,000. Allium Financial Advisors LLC purchased a new stake in Northern Dynasty Minerals during the 1st quarter worth about $29,000. Finally, SBI Securities Co. Ltd. raised its position in Northern Dynasty Minerals by 571.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 27,073 shares of the mining company's stock valued at $31,000 after purchasing an additional 23,042 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. 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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