Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – Time to Sell?

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped down before the market opened on Wednesday . The stock had previously closed at $2.03, but opened at $1.12. Northern Dynasty Minerals shares last traded at $1.3050, with a volume of 25,613,046 shares.

Northern Dynasty Minerals Trading Down 0.8%

The company has a market capitalization of $733.44 million, a PE ratio of -10.92 and a beta of 0.08. The stock’s 50-day moving average is $2.07 and its two-hundred day moving average is $1.67.

Hedge Funds Weigh In On Northern Dynasty Minerals

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northern Dynasty Minerals in the second quarter worth approximately $17,117,000. GAM Holding AG bought a new stake in Northern Dynasty Minerals during the 2nd quarter valued at $3,752,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Northern Dynasty Minerals by 100.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company’s stock worth $1,983,000 after buying an additional 735,300 shares during the period. XTX Topco Ltd grew its position in shares of Northern Dynasty Minerals by 232.7% during the 2nd quarter. XTX Topco Ltd now owns 636,134 shares of the mining company’s stock worth $852,000 after buying an additional 444,950 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Northern Dynasty Minerals during the 2nd quarter worth $335,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

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.