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

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped down prior to trading on Wednesday . The stock had previously closed at $1.11, but opened at $1.07. Northern Dynasty Minerals shares last traded at $1.03, with a volume of 850,819 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently commented on NAK shares. HC Wainwright reiterated a “buy” rating and set a $1.30 price target on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a research report on Thursday, January 2nd. Finally, StockNews.com assumed coverage on Northern Dynasty Minerals in a report on Friday, December 27th. They set a “sell” rating on the stock.

Northern Dynasty Minerals Stock Performance

The company has a market capitalization of $520.28 million, a price-to-earnings ratio of -24.30 and a beta of 0.51. The firm has a fifty day moving average price of $0.75.

Hedge Funds Weigh In On Northern Dynasty Minerals

Institutional investors and hedge funds have recently made changes to their positions in the company. Allegheny Financial Group bought a new position in Northern Dynasty Minerals during the fourth quarter worth about $30,000. RFG Advisory LLC acquired a new position in shares of Northern Dynasty Minerals during the 4th quarter worth approximately $31,000. Squarepoint Ops LLC acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter valued at approximately $44,000. Game Plan Financial Advisors LLC boosted its stake in shares of Northern Dynasty Minerals by 29.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock valued at $45,000 after buying an additional 18,000 shares during the period. Finally, Stifel Financial Corp increased its stake in Northern Dynasty Minerals by 71.8% during the 3rd 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. Institutional investors and hedge funds 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.