Short Interest in Northern Dynasty Minerals Ltd (NAK) Declines By 3.7%
Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) saw a significant drop in short interest in January. As of January 12th, there was short interest totalling 28,832,199 shares, a drop of 3.7% from the December 29th total of 29,940,154 shares. Approximately 13.0% of the company’s stock are short sold. Based on an average trading volume of 2,717,767 shares, the short-interest ratio is currently 10.6 days.
A number of large investors have recently bought and sold shares of NAK. Midas Management Corp acquired a new position in Northern Dynasty Minerals in the third quarter worth about $108,000. PEAK6 Investments L.P. acquired a new position in Northern Dynasty Minerals in the third quarter worth about $125,000. Smith Moore & CO. grew its stake in Northern Dynasty Minerals by 340.7% in the third quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock worth $132,000 after purchasing an additional 56,500 shares in the last quarter. LMR Partners LLP acquired a new position in Northern Dynasty Minerals in the third quarter worth about $157,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Northern Dynasty Minerals by 826.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock worth $181,000 after purchasing an additional 115,999 shares in the last quarter.
Several analysts have recently weighed in on NAK shares. BidaskClub downgraded Northern Dynasty Minerals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. HC Wainwright started coverage on Northern Dynasty Minerals in a research note on Thursday, October 19th. They set a “buy” rating and a $2.50 target price for the company. BMO Capital Markets upgraded Northern Dynasty Minerals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research upgraded Northern Dynasty Minerals from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.13.
Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last posted its quarterly earnings results on Tuesday, November 14th. The mining company reported ($0.05) EPS for the quarter.
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About Northern Dynasty Minerals
Northern Dynasty Minerals Ltd. is a mineral exploration company. The Company, through its subsidiaries, holds interest in mining claims on State of Alaska land in southwest Alaska, the United States, which are part of the Pebble Copper-Gold-Molybdenum Project (the Pebble Project). The Pebble Project is located in southwest Alaska, approximately 20 miles from the villages of Iliamna and Newhalen, and over 200 miles (approximately 320 kilometers) southwest of the city of Anchorage.
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