Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading 5.2% Higher – Here’s What Happened

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) traded up 5.2% during mid-day trading on Thursday . The stock traded as high as $1.77 and last traded at $1.7250. 2,882,586 shares changed hands during trading, a decline of 73% from the average session volume of 10,561,197 shares. The stock had previously closed at $1.64.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $2.50.

Northern Dynasty Minerals Trading Up 5.8%

The firm has a market capitalization of $971.58 million, a price-to-earnings ratio of -11.57 and a beta of 0.22. The stock has a fifty day moving average of $1.57 and a 200-day moving average of $1.79.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds have recently modified their holdings of NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Northern Dynasty Minerals in the 2nd quarter worth $17,117,000. Millennium Management LLC grew its holdings in shares of Northern Dynasty Minerals by 203.3% in the 4th quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company’s stock worth $26,318,000 after acquiring an additional 8,957,529 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Northern Dynasty Minerals in the 4th quarter worth $10,608,000. Wexford Capital LP grew its holdings in shares of Northern Dynasty Minerals by 423.8% in the 3rd quarter. Wexford Capital LP now owns 2,978,971 shares of the mining company’s stock worth $3,575,000 after acquiring an additional 2,410,269 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Northern Dynasty Minerals in the 3rd quarter worth $2,444,000. 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.