Traders Purchase High Volume of Call Options on Northern Dynasty Minerals (NASDAQ:NAK)

Key Points

• Investors purchased 32,271 call options on Northern Dynasty, a 68% increase versus the average, marking unusually large bullish options activity.
• Shares climbed 17.8% to $2.51 on heavy volume (15.7M vs. an average 9.08M), giving the company a market cap of about $1.4 billion.
• HC Wainwright reaffirmed a Buy rating with a $2.50 target (the MarketBeat consensus), while institutional investors now own roughly 10.55% after several funds modestly increased stakes.

Northern Dynasty Minerals Ltd (NASDAQ:NAK - Get Free Report) was the recipient of unusually large options trading activity on Monday. Investors purchased 32,271 call options on the company. This is an increase of 68% compared to the average volume of 19,163 call options.

Northern Dynasty Minerals Stock Up 17.8%

Shares of Northern Dynasty Minerals stock traded up $0.38 during trading on Monday, hitting $2.51. 15,686,921 shares of the company's stock were exchanged, compared to its average volume of 9,083,726. The company has a market cap of $1.40 billion, a PE ratio of -20.92 and a beta of -0.06. The firm's 50-day simple moving average is $2.00. Northern Dynasty Minerals has a 52-week low of $0.55 and a 52-week high of $2.98.

Hedge Funds Weigh In On Northern Dynasty Minerals

Institutional investors and hedge funds have recently modified their holdings of the stock. One Plus One Wealth Management LLC boosted its stake in shares of Northern Dynasty Minerals by 61.5% in the fourth quarter. One Plus One Wealth Management LLC now owns 26,008 shares of the company's stock worth $51,000 after acquiring an additional 9,908 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in Northern Dynasty Minerals by 38.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 36,000 shares of the company's stock valued at $43,000 after purchasing an additional 10,000 shares in the last quarter. Private Advisor Group LLC boosted its stake in Northern Dynasty Minerals by 66.7% during the 3rd quarter. Private Advisor Group LLC now owns 25,000 shares of the company's stock worth $30,000 after purchasing an additional 10,000 shares during the last quarter. PFG Investments LLC boosted its stake in Northern Dynasty Minerals by 91.6% during the 3rd quarter. PFG Investments LLC now owns 21,081 shares of the company's stock worth $25,000 after purchasing an additional 10,081 shares during the last quarter. Finally, Brookstone Capital Management purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth $26,000. Institutional investors and hedge funds own 10.55% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Northern Dynasty Minerals has a consensus rating of "Buy" and a consensus target price of $2.50.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd.

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