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

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.03, but opened at $1.12. Northern Dynasty Minerals shares last traded at $1.32, with a volume of 38,872,586 shares trading hands.

Analyst Ratings Changes

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

Northern Dynasty Minerals Stock Down 39.4%

The company’s 50-day moving average is $2.12. The stock has a market cap of $688.65 million, a P/E ratio of -10.25 and a beta of 0.08.

Institutional Investors Weigh In On Northern Dynasty Minerals

Institutional investors have recently modified their holdings of the stock. PFG Investments LLC boosted its stake in Northern Dynasty Minerals by 91.6% in the 3rd quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock worth $25,000 after purchasing an additional 10,081 shares in the last quarter. Investment Planning Advisors Inc. bought a new position in Northern Dynasty Minerals in the 4th quarter valued at approximately $26,000. Brookstone Capital Management purchased a new position in shares of Northern Dynasty Minerals in the fourth quarter worth $26,000. Merit Financial Group LLC purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter valued at $26,000. Finally, Advance Capital Management Inc. bought a new position in Northern Dynasty Minerals during the 3rd quarter valued at about $27,000. 10.55% of the stock is owned by hedge funds and other institutional investors.

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.