Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped up before the market opened on Thursday. The stock had previously closed at $0.9466, but opened at $1.00. Northern Dynasty Minerals shares last traded at $0.91, with a volume of 1,227,994 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Northern Dynasty Minerals presently has an average rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Price Performance

The company has a market capitalization of $511.56 million, a PE ratio of -8.28 and a beta of 0.84. The firm’s fifty day simple moving average is $1.47 and its 200 day simple moving average is $1.73.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several institutional investors and hedge funds have recently modified their holdings of NAK. Farther Finance Advisors LLC purchased a new stake in shares of Northern Dynasty Minerals in the third quarter worth about $72,000. Aletheian Wealth Advisors LLC purchased a new position in Northern Dynasty Minerals during the third quarter valued at approximately $230,000. Veracity Capital LLC purchased a new position in Northern Dynasty Minerals during the third quarter valued at approximately $132,000. State Street Corp raised its position in Northern Dynasty Minerals by 45.2% during the second quarter. State Street Corp now owns 613,758 shares of the mining company’s stock valued at $1,178,000 after acquiring an additional 191,058 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Northern Dynasty Minerals by 1,394.4% in the second quarter. NewEdge Advisors LLC now owns 420,229 shares of the mining company’s stock valued at $807,000 after acquiring an additional 392,109 shares during the period. Institutional investors and hedge funds own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. is a Canadian mineral exploration and development company focused on advancing the Pebble Project in southwestern Alaska. The company’s principal asset is the Pebble copper-gold-molybdenum-rhenium deposit, a large undeveloped mineral resource located in the Bristol Bay region.

Northern Dynasty holds its interest in the Pebble Project through its wholly owned subsidiary, Pebble Mines Corp. The project is intended to be evaluated and developed as a potential large-scale mining operation, although Northern Dynasty is an exploration and development company and does not currently produce or sell minerals.

Founded in 1983 and headquartered in Vancouver, British Columbia, Northern Dynasty has concentrated its activities primarily in Alaska.