Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sets New 1-Year Low - Time to Sell?

Key Points

• Northern Dynasty Minerals fell to a new 52-week low, trading as low as $1.06 before closing near $1.085, down 2.2% from the prior close.
• Despite the decline, HC Wainwright maintained a “Buy” rating with a $2.50 price target, matching the stock’s consensus rating and target.
• Institutional ownership stands at 10.55%, with several hedge funds recently initiating or increasing positions, including Kopernik Global Investors, which raised its stake by 50.8%.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM hit a new 52-week low during mid-day trading on Monday. The company traded as low as $1.06 and last traded at $1.0850, with a volume of 1,342,418 shares changing hands. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and set a $2.50 target price on shares of Northern Dynasty Minerals in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Trading Down 2.2%

The firm has a market capitalization of $615.55 million, a P/E ratio of -9.95 and a beta of 0.84. The company has a 50-day moving average of $1.50 and a 200-day moving average of $1.74.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds have recently made changes to their positions in NAK. Kopernik Global Investors LLC increased its position in Northern Dynasty Minerals by 50.8% during the 1st quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company's stock valued at $45,718,000 after purchasing an additional 10,994,668 shares during the period. Bornite Capital Management LP bought a new position in Northern Dynasty Minerals during the 4th quarter worth approximately $10,608,000. Renaissance Technologies LLC bought a new position in Northern Dynasty Minerals during the 1st quarter worth approximately $6,244,000. Swiss National Bank bought a new position in Northern Dynasty Minerals during the 1st quarter worth approximately $1,532,000. Finally, TD Asset Management Inc lifted its position in shares of Northern Dynasty Minerals by 6.1% in the 2nd quarter. TD Asset Management Inc now owns 883,455 shares of the mining company's stock worth $1,688,000 after purchasing an additional 50,725 shares during the period. 10.55% of the stock is currently owned by institutional investors.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a Canadian mineral exploration and development company focused on advancing the Pebble Project in southwestern Alaska. The company's principal asset is the Pebble copper-gold-molybdenum-rhenium deposit, a large undeveloped mineral resource located in the Bristol Bay region.

Northern Dynasty holds its interest in the Pebble Project through its wholly owned subsidiary, Pebble Mines Corp. The project is intended to be evaluated and developed as a potential large-scale mining operation, although Northern Dynasty is an exploration and development company and does not currently produce or sell minerals.

Founded in 1983 and headquartered in Vancouver, British Columbia, Northern Dynasty has concentrated its activities primarily in Alaska.

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