Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading 9.3% Higher – What’s Next?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shot up 9.3% during mid-day trading on Tuesday . The company traded as high as $1.73 and last traded at $1.7050. 4,925,508 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 10,572,625 shares. The stock had previously closed at $1.56.

Northern Dynasty Minerals Price Performance

The stock has a market capitalization of $951.86 million, a P/E ratio of -15.68 and a beta of -0.60. The firm has a fifty day moving average of $1.67 and a two-hundred day moving average of $1.32.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new stake in Northern Dynasty Minerals during the 1st quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Northern Dynasty Minerals by 37.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,320 shares of the mining company’s stock valued at $26,000 after purchasing an additional 5,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Northern Dynasty Minerals in the 2nd quarter valued at approximately $31,000. Ballentine Partners LLC boosted its stake in shares of Northern Dynasty Minerals by 121.0% during the 2nd quarter. Ballentine Partners LLC now owns 28,237 shares of the mining company’s stock worth $38,000 after acquiring an additional 15,459 shares in the last quarter. Finally, Plancorp LLC acquired a new stake in shares of Northern Dynasty Minerals during the first quarter valued at $38,000. Institutional investors and hedge funds own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

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.