Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – What’s Next?

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 37.7%

The company’s 50-day moving average is $2.12 and its 200 day moving average is $1.67. The stock has a market capitalization of $708.25 million, a PE ratio of -10.62 and a beta of 0.08.

Institutional Inflows and Outflows

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

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.