Northern Dynasty Minerals (NASDAQ:NAK) Shares Down 10.6% – Here’s What Happened

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s share price was down 10.6% during mid-day trading on Tuesday . The stock traded as low as $1.93 and last traded at $1.93. Approximately 2,907,669 shares were traded during trading, a decline of 74% from the average daily volume of 11,269,862 shares. The stock had previously closed at $2.16.

Analysts Set New Price Targets

Separately, HC Wainwright reissued 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Down 6.0%

The business has a 50 day moving average price of $2.12. The firm has a market capitalization of $1.14 billion, a PE ratio of -16.92 and a beta of 0.08.

Institutional Trading of Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAM Holding AG increased its stake in Northern Dynasty Minerals by 23.9% during the third quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock worth $4,163,000 after acquiring an additional 669,100 shares during the last quarter. Range Financial Group LLC increased its position in Northern Dynasty Minerals by 400.0% during the 3rd quarter. Range Financial Group LLC now owns 50,000 shares of the company’s stock worth $60,000 after purchasing an additional 40,000 shares in the last quarter. Advance Capital Management Inc. purchased a new position in Northern Dynasty Minerals in the third quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC lifted its position in Northern Dynasty Minerals by 75.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,121 shares of the company’s stock valued at $63,000 after buying an additional 13,801 shares in the last quarter. Finally, One Plus One Wealth Management LLC lifted its position in Northern Dynasty Minerals by 61.5% during the fourth quarter. One Plus One Wealth Management LLC now owns 26,008 shares of the company’s stock valued at $51,000 after buying an additional 9,908 shares in the last quarter. 10.55% of the stock is currently owned by institutional investors and hedge funds.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is 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, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd.