Northern Dynasty Minerals’ (NAK) “Buy” Rating Reiterated at HC Wainwright

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $2.50 target price on the mining company’s stock. HC Wainwright’s target price indicates a potential upside of 30.21% from the stock’s previous close.

Northern Dynasty Minerals Stock Down 4.0%

Shares of NAK stock opened at $1.92 on Wednesday. Northern Dynasty Minerals has a 12-month low of $0.73 and a 12-month high of $2.98. The company has a market capitalization of $1.08 billion, a PE ratio of -21.33 and a beta of 0.61. The firm has a 50 day moving average price of $2.07 and a two-hundred day moving average price of $1.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northern Dynasty Minerals during the 2nd quarter worth $17,117,000. Kopernik Global Investors LLC boosted its position in shares of Northern Dynasty Minerals by 50.8% in the first quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock valued at $45,718,000 after acquiring an additional 10,994,668 shares during the period. Millennium Management LLC grew its stake in shares of Northern Dynasty Minerals by 203.3% in the fourth quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company’s stock valued at $26,318,000 after acquiring an additional 8,957,529 shares in the last quarter. Bornite Capital Management LP acquired a new position in shares of Northern Dynasty Minerals in the fourth quarter valued at about $10,608,000. Finally, Renaissance Technologies LLC bought a new position in Northern Dynasty Minerals during the first quarter worth about $6,244,000. 10.55% of the stock is owned by institutional investors and hedge funds.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company’s flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.