Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 6.9% - Here's Why

Key Points

• Northern Dynasty shares fell 6.9% to $1.1820 on Friday, with about 4.08 million shares traded—roughly 63% below the average daily volume of ~11.15 million.
• HC Wainwright reaffirmed a Buy rating with a $2.50 price target, and the consensus rating is Buy with a $2.50 target, roughly double the current share price.
• The company has a market cap of $624.4 million, 50- and 200-day simple moving averages of $1.79 and $1.74 (both above the current price), a negative P/E of -9.29, and its flagship asset is the Pebble Project in Alaska.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares dropped 6.9% on Friday . The company traded as low as $1.20 and last traded at $1.1820. Approximately 4,084,199 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 11,149,170 shares. The stock had previously closed at $1.27.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Northern Dynasty Minerals presently has an average rating of "Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Performance

The firm's 50 day simple moving average is $1.79 and its 200-day simple moving average is $1.74. The company has a market capitalization of $624.39 million, a price-to-earnings ratio of -9.29 and a beta of 0.09.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several hedge funds have recently bought and sold shares of the business. Brookstone Capital Management purchased a new position in Northern Dynasty Minerals during the 4th quarter valued at about $26,000. Merit Financial Group LLC purchased a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth approximately $26,000. Investment Planning Advisors Inc. acquired a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth approximately $26,000. Kovack Advisors Inc. purchased a new position in Northern Dynasty Minerals during the fourth quarter valued at approximately $27,000. Finally, Webster Bank N. A. purchased a new position in Northern Dynasty Minerals during the fourth quarter valued at approximately $30,000. 10.55% of the stock is owned by hedge funds and other institutional investors.

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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