Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $2.00 price objective on the mining company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.05% from the stock’s previous close.
According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “
A number of other brokerages also recently commented on NAK. BidaskClub raised shares of Northern Dynasty Minerals from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. HC Wainwright initiated coverage on shares of Northern Dynasty Minerals in a research note on Thursday, October 19th. They set a “buy” rating and a $2.50 target price on the stock. Finally, BMO Capital Markets raised shares of Northern Dynasty Minerals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th.
A number of hedge funds have recently modified their holdings of NAK. Midas Management Corp purchased a new stake in shares of Northern Dynasty Minerals in the 3rd quarter valued at approximately $108,000. PEAK6 Investments L.P. purchased a new stake in shares of Northern Dynasty Minerals in the 3rd quarter valued at approximately $125,000. Smith Moore & CO. raised its stake in shares of Northern Dynasty Minerals by 340.7% in the 3rd quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock valued at $132,000 after acquiring an additional 56,500 shares during the period. LMR Partners LLP purchased a new stake in shares of Northern Dynasty Minerals in the 3rd quarter valued at approximately $157,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Northern Dynasty Minerals by 826.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock valued at $181,000 after acquiring an additional 115,999 shares during the period.
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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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