Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 5.7% – Here’s Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) was down 5.7% on Tuesday . The stock traded as low as $1.09 and last traded at $1.09. Approximately 3,524,622 shares traded hands during trading, an increase of 32% from the average daily volume of 2,668,722 shares. The stock had previously closed at $1.15.

Wall Street Analysts Forecast Growth

NAK has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $1.30 target price on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Canaccord Genuity Group upgraded shares of Northern Dynasty Minerals to a “strong-buy” rating in a research note on Thursday, January 2nd. Finally, StockNews.com assumed coverage on Northern Dynasty Minerals in a research note on Friday, December 27th. They issued a “sell” rating on the stock.

Northern Dynasty Minerals Trading Down 5.7 %

The firm has a 50-day moving average of $0.74. The company has a market cap of $583.76 million, a price-to-earnings ratio of -27.13 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAK. Allegheny Financial Group acquired a new position in Northern Dynasty Minerals in the 4th quarter valued at about $30,000. RFG Advisory LLC acquired a new position in Northern Dynasty Minerals in the 4th quarter valued at $31,000. Squarepoint Ops LLC purchased a new position in Northern Dynasty Minerals during the 4th quarter worth $44,000. Game Plan Financial Advisors LLC lifted its stake in shares of Northern Dynasty Minerals by 29.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock worth $45,000 after acquiring an additional 18,000 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Northern Dynasty Minerals by 71.8% during the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock worth $31,000 after acquiring an additional 39,500 shares during the period. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, the United States.