Northern Dynasty Minerals (NYSEAMERICAN:NAK) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.82 and traded as high as $2.0250. Northern Dynasty Minerals shares last traded at $2.00, with a volume of 14,763,045 shares traded.

Analyst Upgrades and Downgrades

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

Northern Dynasty Minerals Price Performance

The company’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $1.83. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -14.07 and a beta of 0.22.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several hedge funds have recently bought and sold shares of NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Northern Dynasty Minerals during the second quarter worth approximately $17,117,000. Millennium Management LLC lifted its position in Northern Dynasty Minerals by 203.3% during the fourth 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 stake in Northern Dynasty Minerals during the fourth quarter worth approximately $10,608,000. Wexford Capital LP lifted its position in Northern Dynasty Minerals by 423.8% during the third 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 stake in shares of Northern Dynasty Minerals in the third quarter valued at approximately $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.