Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Up 8% – Should You Buy?

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) rose 8% during mid-day trading on Thursday . The company traded as high as $1.98 and last traded at $1.9650. Approximately 851,627 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 9,456,026 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $2.50.

Northern Dynasty Minerals Stock Performance

The firm’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $1.90. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -20.67 and a beta of 0.67.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last announced its quarterly earnings results on Friday, May 15th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. As a group, analysts forecast that Northern Dynasty Minerals, Ltd. will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAK. Cary Street Partners Financial LLC raised its position in Northern Dynasty Minerals by 13.9% in the fourth quarter. Cary Street Partners Financial LLC now owns 41,000 shares of the mining company’s stock valued at $81,000 after purchasing an additional 5,000 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of Northern Dynasty Minerals by 24.5% during the 1st quarter. Kestra Advisory Services LLC now owns 31,484 shares of the mining company’s stock worth $44,000 after purchasing an additional 6,194 shares during the period. Cibc World Market Inc. grew its holdings in shares of Northern Dynasty Minerals by 71.9% during the 4th quarter. Cibc World Market Inc. now owns 17,534 shares of the mining company’s stock worth $35,000 after purchasing an additional 7,334 shares during the period. SevenBridge Financial Group LLC grew its holdings in shares of Northern Dynasty Minerals by 68.2% during the 1st quarter. SevenBridge Financial Group LLC now owns 18,500 shares of the mining company’s stock worth $26,000 after purchasing an additional 7,500 shares during the period. Finally, One Plus One Wealth Management LLC increased its position in shares of Northern Dynasty Minerals by 61.5% during the 4th quarter. One Plus One Wealth Management LLC now owns 26,008 shares of the mining company’s stock worth $51,000 after purchasing an additional 9,908 shares during the last quarter. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

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.