Northern Dynasty Minerals (NASDAQ:NAK) Trading Up 8.1% – Here’s Why
by Teresa Graham · The Cerbat GemNorthern Dynasty Minerals Ltd (NASDAQ:NAK – Get Free Report) shares rose 8.1% during trading on Tuesday . The company traded as high as $2.07 and last traded at $2.0650. Approximately 5,802,107 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 8,410,221 shares. The stock had previously closed at $1.91.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2.50.
Get Our Latest Stock Report on NAK
Northern Dynasty Minerals Stock Performance
The firm’s fifty day simple moving average is $1.97. The company has a market capitalization of $1.15 billion, a P/E ratio of -17.17 and a beta of -0.06.
Institutional Investors Weigh In On Northern Dynasty Minerals
Hedge funds have recently modified their holdings of the stock. Brookstone Capital Management purchased a new position in Northern Dynasty Minerals in the 4th quarter worth about $26,000. Investment Planning Advisors Inc. acquired a new position in shares of Northern Dynasty Minerals in the fourth quarter worth about $26,000. PFG Investments LLC increased its position in shares of Northern Dynasty Minerals by 91.6% in the third quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock worth $25,000 after acquiring an additional 10,081 shares in the last quarter. Advance Capital Management Inc. purchased a new position in shares of Northern Dynasty Minerals in the third quarter worth approximately $27,000. Finally, Silverlake Wealth Management LLC raised its holdings in shares of Northern Dynasty Minerals by 138.5% during the fourth quarter. Silverlake Wealth Management LLC now owns 25,000 shares of the company’s stock valued at $49,000 after acquiring an additional 14,518 shares during the period. 10.55% of the stock is owned by hedge funds and other institutional investors.
Northern Dynasty Minerals Company Profile
Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd.