Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 5.9% – Here’s Why

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price traded down 5.9% during mid-day trading on Tuesday . The company traded as low as $1.50 and last traded at $1.5250. 3,999,958 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 10,626,030 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

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

Northern Dynasty Minerals Stock Performance

The stock has a market cap of $965.98 million, a P/E ratio of -11.50 and a beta of 0.22. The business has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.79.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAM Holding AG lifted its position in shares of Northern Dynasty Minerals by 23.9% during the 3rd quarter. GAM Holding AG now owns 3,469,100 shares of the mining company’s stock valued at $4,163,000 after buying an additional 669,100 shares during the last quarter. CenterBook Partners LP purchased a new position in shares of Northern Dynasty Minerals during the 3rd quarter valued at $2,444,000. TD Asset Management Inc purchased a new position in shares of Northern Dynasty Minerals during the 3rd quarter valued at $839,000. Brookwood Investment Group LLC purchased a new position in shares of Northern Dynasty Minerals during the 3rd quarter valued at $63,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of Northern Dynasty Minerals during the 3rd quarter valued at $228,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.