Northern Dynasty Minerals (NASDAQ:NAK) Shares Gap Up – Time to Buy?

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.13, but opened at $2.37. Northern Dynasty Minerals shares last traded at $2.49, with a volume of 8,705,185 shares.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Price Performance

The stock has a market cap of $1.37 billion, a PE ratio of -20.50 and a beta of -0.06. The stock’s 50-day simple moving average is $2.05.

Institutional Trading of Northern Dynasty Minerals

Several hedge funds have recently modified their holdings of NAK. Merit Financial Group LLC acquired a new stake in Northern Dynasty Minerals in the fourth quarter valued at $26,000. Webster Bank N. A. acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter valued at approximately $30,000. OLIO Financial Planning purchased a new stake in shares of Northern Dynasty Minerals in the fourth quarter valued at $44,000. Investment Planning Advisors Inc. purchased a new position in Northern Dynasty Minerals in the 4th quarter valued at about $26,000. Finally, Perigon Wealth Management LLC grew its stake in Northern Dynasty Minerals by 13.7% in the 4th quarter. Perigon Wealth Management LLC now owns 216,100 shares of the company’s stock worth $426,000 after acquiring an additional 26,100 shares during the period. 10.55% of the stock is 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.