Northern Dynasty Minerals (NAK) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a buy rating in a report issued on Thursday. They currently have $2.00 target price on the mining company’s stock.
According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “
A number of other brokerages have also recently weighed in on NAK. BidaskClub raised shares of Northern Dynasty Minerals from a sell rating to a hold rating in a research report on Thursday, September 21st. BMO Capital Markets raised shares of Northern Dynasty Minerals from a market perform rating to an outperform rating in a research report on Tuesday, December 19th. Finally, HC Wainwright restated a buy rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a research note on Monday, January 8th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Midas Management Corp acquired a new position in Northern Dynasty Minerals in the third quarter valued at $108,000. PEAK6 Investments L.P. acquired a new position in Northern Dynasty Minerals in the third quarter valued at $125,000. Smith Moore & CO. increased its stake in Northern Dynasty Minerals by 340.7% in the third quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock valued at $132,000 after purchasing an additional 56,500 shares during the period. LMR Partners LLP acquired a new position in Northern Dynasty Minerals in the third quarter valued at $157,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Northern Dynasty Minerals by 826.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock valued at $181,000 after purchasing an additional 115,999 shares during the period.
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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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