Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped down before the market opened on Wednesday . The stock had previously closed at $2.03, but opened at $1.12. Northern Dynasty Minerals shares last traded at $1.3050, with a volume of 25,613,046 shares traded.

Northern Dynasty Minerals Stock Down 37.7%

The company has a market cap of $708.25 million, a PE ratio of -10.62 and a beta of 0.08. The firm has a 50 day simple moving average of $2.12 and a 200-day simple moving average of $1.67.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Northern Dynasty Minerals in the second quarter worth $17,117,000. GAM Holding AG acquired a new stake in shares of Northern Dynasty Minerals in the 2nd quarter worth $3,752,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Northern Dynasty Minerals by 100.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company’s stock worth $1,983,000 after buying an additional 735,300 shares during the last quarter. XTX Topco Ltd increased its position in Northern Dynasty Minerals by 232.7% during the 2nd quarter. XTX Topco Ltd now owns 636,134 shares of the mining company’s stock valued at $852,000 after buying an additional 444,950 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Northern Dynasty Minerals by 77.4% during the 2nd quarter. Bank of America Corp DE now owns 367,285 shares of the mining company’s stock valued at $492,000 after buying an additional 160,285 shares in the last quarter. Hedge funds and other institutional investors own 10.55% of the company’s stock.

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.