Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 5.7% – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price dropped 5.7% during trading on Tuesday . The stock traded as low as $1.59 and last traded at $1.5850. Approximately 2,354,155 shares were traded during mid-day trading, a decline of 71% from the average session volume of 8,153,022 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

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

Northern Dynasty Minerals Stock Performance

The company’s 50-day moving average is $1.69 and its 200 day moving average is $1.76. The company has a market capitalization of $879.72 million, a PE ratio of -14.23 and a beta of 0.71.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of institutional investors have recently added to or reduced their stakes in NAK. Cubist Systematic Strategies LLC acquired a new stake in shares of Northern Dynasty Minerals during the first quarter worth $25,000. SevenBridge Financial Group LLC boosted its position in shares of Northern Dynasty Minerals by 68.2% during the 1st quarter. SevenBridge Financial Group LLC now owns 18,500 shares of the mining company’s stock valued at $26,000 after acquiring an additional 7,500 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth about $27,000. Hibernia Wealth Partners LLC acquired a new position in Northern Dynasty Minerals during the fourth quarter worth $30,000. Finally, Private Advisor Group LLC lifted its position in shares of Northern Dynasty Minerals by 66.7% during the third quarter. Private Advisor Group LLC now owns 25,000 shares of the mining company’s stock worth $30,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 10.55% of the company’s stock.

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.