Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 5.7% - Time to Sell?

Key Points

• Northern Dynasty Minerals shares fell 5.7% to $1.585 during Tuesday’s midday trading, with volume significantly below the average session level.
• HC Wainwright reaffirmed a Buy rating and a $2.50 price target; the stock has one analyst rating and a consensus Buy recommendation.
• Institutional ownership stands at 10.55%, with several investors increasing positions, including Kopernik Global Investors, Millennium Management, and Mirae Asset Global ETFs.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares traded down 5.7% during mid-day trading on Tuesday . The company traded as low as $1.59 and last traded at $1.5850. Approximately 2,354,155 shares were traded during mid-day trading, a decline of 71% from the average session volume of 8,153,022 shares. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

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

Northern Dynasty Minerals Price Performance

The company has a market capitalization of $879.72 million, a P/E ratio of -14.23 and a beta of 0.71. The firm's 50-day moving average is $1.69 and its 200-day moving average is $1.76.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several institutional investors have recently bought and sold shares of the company. Kopernik Global Investors LLC boosted its holdings 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Northern Dynasty Minerals by 11.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,088,681 shares of the mining company's stock worth $17,110,000 after acquiring an additional 1,442,764 shares during the period. Millennium Management LLC lifted its stake in Northern Dynasty Minerals by 203.3% during the fourth quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company's stock valued at $26,318,000 after buying an additional 8,957,529 shares in the last quarter. Bornite Capital Management LP purchased a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth about $10,608,000. Finally, Renaissance Technologies LLC acquired a new position in Northern Dynasty Minerals in the 1st quarter valued at approximately $6,244,000. 10.55% of the stock is owned by institutional investors and hedge funds.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company's flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.

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