Northern Dynasty Minerals Ltd. (NAK) Short Interest Update
Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 30,358,344 shares, a drop of 5.2% from the November 15th total of 32,006,973 shares. Based on an average daily volume of 3,269,001 shares, the short-interest ratio is presently 9.3 days. Approximately 13.7% of the shares of the stock are short sold.
Northern Dynasty Minerals (NYSEAMERICAN:NAK) traded up $0.08 during trading hours on Monday, hitting $2.01. 2,723,536 shares of the stock were exchanged, compared to its average volume of 5,423,687. Northern Dynasty Minerals has a 52 week low of $1.06 and a 52 week high of $3.45.
A number of brokerages have commented on NAK. BidaskClub upgraded shares of Northern Dynasty Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. BMO Capital Markets assumed coverage on shares of Northern Dynasty Minerals in a research note on Monday, August 28th. They issued a “market perform” rating for the company. Finally, HC Wainwright assumed coverage on shares of Northern Dynasty Minerals in a research note on Thursday, October 19th. They issued a “buy” rating and a $2.50 target price for the company.
Several large investors have recently bought and sold shares of NAK. Goldman Sachs Group Inc. raised its stake in shares of Northern Dynasty Minerals by 4.5% in the second quarter. Goldman Sachs Group Inc. now owns 512,942 shares of the mining company’s stock valued at $713,000 after acquiring an additional 22,111 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Northern Dynasty Minerals by 826.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock worth $181,000 after purchasing an additional 115,999 shares during the last quarter. Midas Management Corp bought a new position in Northern Dynasty Minerals in the 3rd quarter worth approximately $108,000. Gabelli Funds LLC bought a new position in Northern Dynasty Minerals in the 3rd quarter worth approximately $414,000. Finally, Smith Moore & CO. raised its position in Northern Dynasty Minerals by 340.7% in the 3rd quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock worth $132,000 after purchasing an additional 56,500 shares during the last quarter.
Northern Dynasty Minerals Company Profile
Northern Dynasty Minerals Ltd. is a mineral exploration company. The Company, through its subsidiaries, holds interest in mining claims on State of Alaska land in southwest Alaska, the United States, which are part of the Pebble Copper-Gold-Molybdenum Project (the Pebble Project). The Pebble Project is located in southwest Alaska, approximately 20 miles from the villages of Iliamna and Newhalen, and over 200 miles (approximately 320 kilometers) southwest of the city of Anchorage.
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