Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 3.7% – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) fell 3.7% on Wednesday . The company traded as low as $2.24 and last traded at $2.2350. 646,673 shares traded hands during trading, a decline of 94% from the average session volume of 10,252,810 shares. The stock had previously closed at $2.32.

Northern Dynasty Minerals Stock Performance

The company has a fifty day moving average of $1.93 and a two-hundred day moving average of $1.46. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -18.71 and a beta of -0.11.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several institutional investors and hedge funds have recently modified their holdings of NAK. Marex Group plc bought a new position in Northern Dynasty Minerals during the second quarter worth about $43,000. Hudson Bay Capital Management LP bought a new position in shares of Northern Dynasty Minerals during the second quarter worth approximately $335,000. Bank of America Corp DE increased its holdings in shares of Northern Dynasty Minerals by 77.4% during the second quarter. Bank of America Corp DE now owns 367,285 shares of the mining company’s stock worth $492,000 after purchasing an additional 160,285 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Northern Dynasty Minerals in the second quarter valued at approximately $31,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Northern Dynasty Minerals in the second quarter valued at approximately $17,117,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company’s flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.