Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading 8.6% Higher – Here’s Why

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) was up 8.6% on Tuesday . The company traded as high as $2.0890 and last traded at $2.0750. Approximately 8,320,917 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 8,670,579 shares. The stock had previously closed at $1.91.

Northern Dynasty Minerals Stock Performance

The company’s 50 day moving average price is $1.97 and its 200-day moving average price is $1.56. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -17.17 and a beta of -0.06.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently modified their holdings of NAK. Cubist Systematic Strategies LLC bought a new stake in shares of Northern Dynasty Minerals during the 1st quarter worth $25,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Northern Dynasty Minerals by 37.5% during the second 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. acquired a new position in shares of Northern Dynasty Minerals in the 2nd quarter valued at $31,000. Ballentine Partners LLC increased its stake in Northern Dynasty Minerals by 121.0% in the 2nd quarter. Ballentine Partners LLC now owns 28,237 shares of the mining company’s stock worth $38,000 after purchasing an additional 15,459 shares in the last quarter. Finally, Dakota Wealth Management acquired a new stake in Northern Dynasty Minerals during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.