Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Up 7.5% - Still a Buy?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's stock price shot up 7.5% during mid-day trading on Wednesday . The stock traded as high as $1.95 and last traded at $1.94. 7,684,438 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 7,001,999 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NAK. Wall Street Zen raised Northern Dynasty Minerals to a "sell" rating in a research note on Wednesday, May 21st. HC Wainwright increased their price objective on Northern Dynasty Minerals from $1.30 to $2.50 and gave the stock a "buy" rating in a research note on Monday, July 7th.

Northern Dynasty Minerals Trading Down 0.9%

The firm has a market cap of $1.17 billion, a P/E ratio of -21.60 and a beta of -0.69. The firm has a 50-day simple moving average of $1.27 and a 200-day simple moving average of $0.89.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAK. Wells Fargo & Company MN raised its stake in shares of Northern Dynasty Minerals by 8.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company's stock valued at $592,000 after buying an additional 78,554 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Northern Dynasty Minerals by 197.6% during the 4th quarter. XTX Topco Ltd now owns 305,080 shares of the mining company's stock valued at $177,000 after buying an additional 202,580 shares during the last quarter. Dauntless Investment Group LLC purchased a new position in shares of Northern Dynasty Minerals in the 4th quarter valued at about $1,233,000. Allegheny Financial Group purchased a new position in shares of Northern Dynasty Minerals in the 4th quarter valued at about $30,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Northern Dynasty Minerals by 164.8% in the 4th quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company's stock valued at $1,890,000 after purchasing an additional 2,022,304 shares in the last quarter. Hedge funds and other institutional investors 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.