Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 11.3% – Here’s Why

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price dropped 11.3% during mid-day trading on Tuesday . The stock traded as low as $1.92 and last traded at $1.9150. Approximately 3,010,159 shares changed hands during trading, a decline of 73% from the average daily volume of 11,269,862 shares. The stock had previously closed at $2.16.

Northern Dynasty Minerals Stock Performance

The firm has a market cap of $1.14 billion, a P/E ratio of -16.92 and a beta of 0.08. The firm’s fifty day simple moving average is $2.12 and its 200 day simple moving average is $1.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Northern Dynasty Minerals during the second quarter valued at approximately $17,117,000. GAM Holding AG bought a new position in Northern Dynasty Minerals in the second quarter worth approximately $3,752,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Northern Dynasty Minerals by 100.6% during 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 purchasing an additional 735,300 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Northern Dynasty Minerals by 232.7% during the second quarter. XTX Topco Ltd now owns 636,134 shares of the mining company’s stock valued at $852,000 after buying an additional 444,950 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Northern Dynasty Minerals by 77.4% in the second quarter. Bank of America Corp DE now owns 367,285 shares of the mining company’s stock valued at $492,000 after acquiring an additional 160,285 shares in the last quarter. 10.55% of the stock is owned by hedge funds and other institutional investors.

About Northern Dynasty Minerals

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.