Northern Dynasty Minerals (NASDAQ:NAK) Trading Up 7% – What’s Next?

Northern Dynasty Minerals Ltd (NASDAQ:NAK) shares rose 7% during mid-day trading on Tuesday . The stock traded as high as $2.20 and last traded at $2.15. Approximately 1,525,922 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 11,764,918 shares. The stock had previously closed at $2.01.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Northern Dynasty Minerals has a consensus rating of “Buy” and an average price target of $2.50.

Northern Dynasty Minerals Price Performance

The company has a market cap of $1.19 billion, a P/E ratio of -17.75 and a beta of -0.06. The stock has a 50 day moving average of $2.08.

Hedge Funds Weigh In On Northern Dynasty Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advance Capital Management Inc. acquired a new stake in Northern Dynasty Minerals during the 3rd quarter worth about $27,000. Perigon Wealth Management LLC acquired a new stake in shares of Northern Dynasty Minerals during the third quarter worth about $228,000. Range Financial Group LLC boosted its position in Northern Dynasty Minerals by 400.0% in the third quarter. Range Financial Group LLC now owns 50,000 shares of the company’s stock valued at $60,000 after buying an additional 40,000 shares during the last quarter. Brookwood Investment Group LLC purchased a new stake in Northern Dynasty Minerals in the third quarter valued at approximately $63,000. Finally, GAM Holding AG increased its holdings in Northern Dynasty Minerals by 23.9% in the 3rd quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock worth $4,163,000 after buying an additional 669,100 shares during the period. Hedge funds and other institutional investors own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.