Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 5.1% – Here’s What Happened

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) fell 5.1% during mid-day trading on Wednesday . The company traded as low as $1.21 and last traded at $1.21. 2,893,085 shares changed hands during trading, a decline of 21% from the average session volume of 3,669,502 shares. The stock had previously closed at $1.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Northern Dynasty Minerals to a “sell” rating in a report on Wednesday, May 21st.

Northern Dynasty Minerals Trading Down 0.8%

The company has a market cap of $640.26 million, a PE ratio of -29.75 and a beta of 0.51. The firm’s fifty day moving average is $1.03 and its 200 day moving average is $0.71.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in Northern Dynasty Minerals in the 1st quarter worth about $25,000. Allworth Financial LP purchased a new position in shares of Northern Dynasty Minerals in the first quarter valued at approximately $28,000. Allium Financial Advisors LLC purchased a new position in shares of Northern Dynasty Minerals in the first quarter valued at approximately $29,000. Allegheny Financial Group acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Northern Dynasty Minerals by 571.6% during the first quarter. SBI Securities Co. Ltd. now owns 27,073 shares of the mining company’s stock worth $31,000 after purchasing an additional 23,042 shares in the last quarter. Institutional investors and hedge funds own 10.55% of the company’s stock.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in 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, the United States.