Northern Dynasty Minerals (NASDAQ:NAK) Trading Down 11% – What’s Next?

Northern Dynasty Minerals Ltd (NASDAQ:NAK) shares dropped 11% during trading on Thursday . The company traded as low as $2.18 and last traded at $2.19. Approximately 10,542,570 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 11,644,689 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $2.50.

Northern Dynasty Minerals Stock Performance

The stock has a fifty day moving average of $2.05. The company has a market cap of $1.26 billion, a PE ratio of -18.83 and a beta of -0.06.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC increased its stake in Northern Dynasty Minerals by 91.6% during the 3rd quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock valued at $25,000 after buying an additional 10,081 shares during the period. Investment Planning Advisors Inc. acquired a new stake in shares of Northern Dynasty Minerals during the 4th quarter valued at $26,000. Brookstone Capital Management acquired a new position in Northern Dynasty Minerals in the fourth quarter worth approximately $26,000. Merit Financial Group LLC bought a new stake in Northern Dynasty Minerals in the fourth quarter worth $26,000. Finally, Advance Capital Management Inc. acquired a new stake in Northern Dynasty Minerals in the 3rd quarter worth approximately $27,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

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.