Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Falls 7.3% - Should You Sell?

Key Points

• Northern Dynasty Minerals shares fell 7.3% to about $1.205 during Wednesday’s trading, with volume significantly below the stock’s average session volume.
• HC Wainwright reaffirmed a “Buy” rating and a $2.50 price target; MarketBeat reports a consensus “Buy” rating and the same average target, implying potential upside.
• Institutional investors increased their positions, but they collectively own only 10.55% of the stock. Northern Dynasty is focused on developing Alaska’s Pebble copper-gold-molybdenum-rhenium project and currently does not produce or sell minerals.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares dropped 7.3% during mid-day trading on Wednesday. The stock traded as low as $1.20 and last traded at $1.2050. Approximately 2,404,070 shares traded hands during trading, a decline of 68% from the average session volume of 7,620,589 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Price Performance

The company has a market cap of $671.77 million, a price-to-earnings ratio of -10.95 and a beta of 0.84. The company's 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.74.

Institutional Trading of Northern Dynasty Minerals

Several large investors have recently modified their holdings of NAK. State Street Corp increased its position in shares of Northern Dynasty Minerals by 45.2% during the second quarter. State Street Corp now owns 613,758 shares of the mining company's stock worth $1,178,000 after acquiring an additional 191,058 shares during the last quarter. NewEdge Advisors LLC grew its stake in Northern Dynasty Minerals by 1,394.4% during the 2nd quarter. NewEdge Advisors LLC now owns 420,229 shares of the mining company's stock valued at $807,000 after purchasing an additional 392,109 shares in the last quarter. HighTower Advisors LLC grew its stake in Northern Dynasty Minerals by 5.0% during the 2nd quarter. HighTower Advisors LLC now owns 138,683 shares of the mining company's stock valued at $266,000 after purchasing an additional 6,550 shares in the last quarter. Two Sigma Securities LLC increased its holdings in Northern Dynasty Minerals by 183.1% during the 2nd quarter. Two Sigma Securities LLC now owns 30,596 shares of the mining company's stock worth $59,000 after purchasing an additional 19,788 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Northern Dynasty Minerals during the 2nd quarter worth approximately $205,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

Northern Dynasty Minerals Company Profile

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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