Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 6.2% - Here's Why

Key Points

• Northern Dynasty Minerals shares fell 6.2% to $1.435 during Thursday trading, while volume dropped sharply to 723,657 shares—about 91% below the average daily volume.
• HC Wainwright reaffirmed a “Buy” rating and $2.50 price target, matching the stock’s current average analyst rating and consensus target.
• Institutional ownership stands at 10.55%, with several hedge funds increasing or initiating positions; the company’s flagship asset is the Pebble Project in southwestern Alaska.

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM traded down 6.2% during trading on Thursday . The company traded as low as $1.44 and last traded at $1.4350. 723,657 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 8,002,193 shares. The stock had previously closed at $1.53.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "buy" rating and set a $2.50 price objective 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, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2.50.

Northern Dynasty Minerals Stock Performance

The company's 50 day simple moving average is $1.64 and its 200 day simple moving average is $1.74. The stock has a market cap of $812.26 million, a PE ratio of -13.14 and a beta of 0.75.

Institutional Trading of Northern Dynasty Minerals

A number of hedge funds have recently bought and sold shares of NAK. Kopernik Global Investors LLC grew its stake in Northern Dynasty Minerals by 50.8% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 purchasing an additional 1,442,764 shares during the period. Millennium Management LLC boosted its holdings in shares of Northern Dynasty Minerals by 203.3% in the 4th quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company's stock worth $26,318,000 after buying an additional 8,957,529 shares during the last quarter. Bornite Capital Management LP purchased a new position in shares of Northern Dynasty Minerals in the 4th quarter worth about $10,608,000. Finally, Renaissance Technologies LLC bought a new position in Northern Dynasty Minerals during the first quarter valued at about $6,244,000. 10.55% of the stock is currently owned by institutional investors.

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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