Northern Dynasty Minerals (NYSEAMERICAN:NAK) Receives Buy Rating from HC Wainwright

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $2.50 price target on the mining company’s stock. HC Wainwright’s target price points to a potential upside of 30.21% from the company’s previous close.

Northern Dynasty Minerals Price Performance

Northern Dynasty Minerals stock opened at $1.92 on Wednesday. The firm has a market capitalization of $1.08 billion, a PE ratio of -21.33 and a beta of 0.61. The company’s 50-day moving average is $2.07 and its 200-day moving average is $1.90. Northern Dynasty Minerals has a fifty-two week low of $0.73 and a fifty-two week high of $2.98.

Institutional Trading of Northern Dynasty Minerals

A number of hedge funds have recently made changes to their positions in NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Northern Dynasty Minerals during the 2nd quarter worth approximately $17,117,000. Kopernik Global Investors LLC raised its stake in Northern Dynasty Minerals by 50.8% in the 1st quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock valued at $45,718,000 after acquiring an additional 10,994,668 shares during the period. Millennium Management LLC lifted its holdings in Northern Dynasty Minerals by 203.3% during the 4th quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company’s stock valued at $26,318,000 after purchasing an additional 8,957,529 shares during the last quarter. Bornite Capital Management LP acquired a new stake in Northern Dynasty Minerals during the 4th quarter valued at $10,608,000. Finally, Renaissance Technologies LLC bought a new position in Northern Dynasty Minerals during the first quarter worth $6,244,000. 10.55% of the stock is owned by institutional investors and hedge funds.

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.