Northern Dynasty Minerals (NASDAQ:NAK) Trading Up 8% – Should You Buy?

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s stock price was up 8% during mid-day trading on Thursday . The company traded as high as $2.23 and last traded at $2.15. Approximately 8,193,265 shares traded hands during trading, a decline of 21% from the average daily volume of 10,408,512 shares. The stock had previously closed at $1.99.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Northern Dynasty Minerals currently has a consensus rating of “Buy” and an average target price of $2.50.

Northern Dynasty Minerals Stock Performance

The stock has a market capitalization of $1.19 billion, a P/E ratio of -17.92 and a beta of -0.11. The stock’s fifty day moving average price is $1.92.

Institutional Trading of Northern Dynasty Minerals

Several large investors have recently added to or reduced their stakes in NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Northern Dynasty Minerals by 11.4% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,088,681 shares of the company’s stock valued at $17,110,000 after buying an additional 1,442,764 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Northern Dynasty Minerals by 369.5% during the 3rd quarter. Millennium Management LLC now owns 4,406,828 shares of the company’s stock worth $5,288,000 after acquiring an additional 3,468,174 shares during the last quarter. GAM Holding AG grew its position in shares of Northern Dynasty Minerals by 23.9% during the 3rd quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock valued at $4,163,000 after acquiring an additional 669,100 shares during the period. Wexford Capital LP increased its stake in shares of Northern Dynasty Minerals by 423.8% in the 3rd quarter. Wexford Capital LP now owns 2,978,971 shares of the company’s stock worth $3,575,000 after purchasing an additional 2,410,269 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Northern Dynasty Minerals by 306.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,218,984 shares of the company’s stock worth $2,663,000 after purchasing an additional 1,673,333 shares during the period. 10.55% of the stock is currently owned by institutional investors.

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.