Northern Dynasty Minerals (NASDAQ:NAK) Shares Gap Down – Should You Sell?

Northern Dynasty Minerals Ltd (NASDAQ:NAK) shares 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 $1.32, with a volume of 38,872,586 shares changing hands.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Stock Down 39.4%

The firm has a market capitalization of $688.65 million, a price-to-earnings ratio of -10.25 and a beta of 0.08. The stock’s fifty day moving average price is $2.12.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several hedge funds have recently made changes to their positions in NAK. Quadrature Capital Ltd purchased a new stake in Northern Dynasty Minerals during the fourth quarter valued at approximately $1,184,000. Millennium Management LLC raised its position in Northern Dynasty Minerals by 203.3% during the fourth quarter. Millennium Management LLC now owns 13,364,357 shares of the company’s stock valued at $26,318,000 after acquiring an additional 8,957,529 shares in the last quarter. GAM Holding AG grew its position in Northern Dynasty Minerals by 4.5% during the fourth quarter. GAM Holding AG now owns 3,626,000 shares of the company’s stock valued at $7,143,000 after buying an additional 156,900 shares during the period. Cetera Investment Advisers increased its stake in shares of Northern Dynasty Minerals by 14.1% in the 4th quarter. Cetera Investment Advisers now owns 99,557 shares of the company’s stock valued at $196,000 after purchasing an additional 12,340 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Northern Dynasty Minerals in the 4th quarter valued at $32,000. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

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.