Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 5.2% - Time to Sell?

Key Points

• Northern Dynasty Minerals shares fell 5.2% to about $1.005, while trading volume dropped 75% below the average session volume.
• HC Wainwright reaffirmed a “Buy” rating with a $2.50 price target; MarketBeat reports one analyst covering the stock, with an average rating of “Buy.”
• Institutional investors and hedge funds own 10.55% of the company, with several firms—including Kopernik Global Investors and State Street—recently increasing their positions.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM's share price fell 5.2% on Tuesday. The stock traded as low as $1.0001 and last traded at $1.0050. 1,850,367 shares were traded during trading, a decline of 75% from the average session volume of 7,544,427 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and issued 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. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2.50.

Northern Dynasty Minerals Trading Down 4.2%

The business has a 50 day moving average of $1.50 and a two-hundred day moving average of $1.74. The firm has a market cap of $570.58 million, a P/E ratio of -9.23 and a beta of 0.84.

Institutional Trading of Northern Dynasty Minerals

Several hedge funds have recently added to or reduced their stakes in the company. Kopernik Global Investors LLC boosted its position in shares of Northern Dynasty Minerals by 50.8% in the first quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company's stock valued at $45,718,000 after acquiring an additional 10,994,668 shares during the period. Renaissance Technologies LLC bought a new position in Northern Dynasty Minerals during the first quarter worth about $6,244,000. Swiss National Bank bought a new position in Northern Dynasty Minerals during the first quarter worth about $1,532,000. NewEdge Advisors LLC raised its stake in Northern Dynasty Minerals by 1,394.4% in the 2nd quarter. NewEdge Advisors LLC now owns 420,229 shares of the mining company's stock worth $807,000 after purchasing an additional 392,109 shares in the last quarter. Finally, State Street Corp raised its stake in Northern Dynasty Minerals by 45.2% in the 2nd quarter. State Street Corp now owns 613,758 shares of the mining company's stock worth $1,178,000 after purchasing an additional 191,058 shares in the last quarter. 10.55% of the stock is owned by institutional investors and hedge funds.

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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