Northern Dynasty Minerals (NAK) Upgraded by Zacks Investment Research to Buy
Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $0.50 price target on the mining company’s stock. Zacks Investment Research‘s target price points to a potential downside of 1.96% from the stock’s previous close.
According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “
Separately, HC Wainwright set a $3.00 price objective on shares of Northern Dynasty Minerals and gave the company a “buy” rating in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $1.75.
Several institutional investors and hedge funds have recently bought and sold shares of NAK. Global X Management Co. LLC acquired a new position in shares of Northern Dynasty Minerals in the 1st quarter valued at $525,000. Vertex One Asset Management Inc. lifted its stake in shares of Northern Dynasty Minerals by 35.9% in the 1st quarter. Vertex One Asset Management Inc. now owns 7,725,643 shares of the mining company’s stock valued at $7,049,000 after purchasing an additional 2,041,043 shares during the period. Grimes & Company Inc. lifted its stake in shares of Northern Dynasty Minerals by 1,264.9% in the 1st quarter. Grimes & Company Inc. now owns 182,900 shares of the mining company’s stock valued at $166,000 after purchasing an additional 169,500 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Northern Dynasty Minerals by 41.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,667,246 shares of the mining company’s stock valued at $4,298,000 after purchasing an additional 1,377,455 shares during the period. Finally, M Holdings Securities Inc. lifted its stake in shares of Northern Dynasty Minerals by 104.2% in the 2nd quarter. M Holdings Securities Inc. now owns 245,000 shares of the mining company’s stock valued at $133,000 after purchasing an additional 125,000 shares during the period.
About Northern Dynasty Minerals
Northern Dynasty Minerals Ltd. acquires, explores for, and develops mineral properties in the United States. Its principal mineral property is the Pebble copper-gold-molybdenum project that includes 2,402 mineral claims covering approximately 417 square miles located in southwest Alaska. The company was formerly known as Northern Dynasty Explorations Ltd.
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