Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up - Should You Buy?

Key Points

• Northern Dynasty Minerals shares rose 1.7%, opening at $1.51 versus a prior close of $1.45, with approximately 1.09 million shares traded.
• HC Wainwright reaffirmed a Buy rating and a $2.50 price target; MarketBeat reports a consensus Buy rating and the same average target.
• Institutional ownership stands at 10.55%, with several funds recently initiating or increasing positions. The company is focused on advancing the Pebble Project in Alaska, a large copper, gold, molybdenum and rhenium deposit that remains subject to environmental and permitting considerations.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price gapped up before the market opened on Wednesday. The stock had previously closed at $1.45, but opened at $1.51. Northern Dynasty Minerals shares last traded at $1.5150, with a volume of 1,091,978 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $2.50.

Northern Dynasty Minerals Trading Up 1.7%

The company has a market cap of $829.17 million, a PE ratio of -13.41 and a beta of 0.75. The stock has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.74.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of NAK. Hibernia Wealth Partners LLC purchased a new position in shares of Northern Dynasty Minerals during the fourth quarter valued at approximately $30,000. SevenBridge Financial Group LLC grew its stake in shares of Northern Dynasty Minerals by 68.2% in the 1st quarter. SevenBridge Financial Group LLC now owns 18,500 shares of the mining company's stock worth $26,000 after buying an additional 7,500 shares during the last quarter. Strathmore Capital Advisors Inc. purchased a new position in Northern Dynasty Minerals during the second quarter valued at $35,000. Sequoia Financial Advisors LLC boosted its holdings in Northern Dynasty Minerals by 81.0% in the first quarter. Sequoia Financial Advisors LLC now owns 22,251 shares of the mining company's stock worth $31,000 after acquiring an additional 9,955 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Northern Dynasty Minerals by 158.1% in the second quarter. Deutsche Bank AG now owns 22,688 shares of the mining company's stock worth $44,000 after acquiring an additional 13,896 shares in the last quarter. Hedge funds and other institutional investors own 10.55% of the company's stock.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. is a Canadian mineral development company focused on advancing the Pebble Project in southwest Alaska. Through its subsidiary, Pebble Mines Corp., the company holds an interest in the project, which is designed to develop a large deposit containing copper, gold, molybdenum and rhenium.

The Pebble Project is located in the Bristol Bay region, near the headwaters of important salmon fisheries. Northern Dynasty's activities have centered on exploration, project engineering, environmental studies, permitting and engagement with regulators, local communities and Indigenous groups.

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