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

Shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped up before the market opened on Monday . The stock had previously closed at $1.31, but opened at $1.40. Northern Dynasty Minerals shares last traded at $1.3390, with a volume of 1,131,679 shares.

Analyst Ratings Changes

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 Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Northern Dynasty Minerals currently has an average rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Trading Up 4.3%

The business has a fifty day moving average of $1.57 and a 200-day moving average of $1.74. The firm has a market cap of $815.12 million, a PE ratio of -13.18 and a beta of 0.75.

Hedge Funds Weigh In On Northern Dynasty Minerals

Hedge funds have recently bought and sold shares of the company. Swiss National Bank bought a new position in shares of Northern Dynasty Minerals in the first quarter worth $1,532,000. Renaissance Technologies LLC bought a new stake in Northern Dynasty Minerals during the first quarter valued at $6,244,000. Kopernik Global Investors LLC boosted its stake in Northern Dynasty Minerals by 50.8% during the first quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock valued at $45,718,000 after buying an additional 10,994,668 shares during the period. Bornite Capital Management LP purchased a new position in Northern Dynasty Minerals during the fourth quarter worth about $10,608,000. Finally, NewEdge Advisors LLC grew its position in Northern Dynasty Minerals by 1,394.4% during the second quarter. NewEdge Advisors LLC now owns 420,229 shares of the mining company’s stock worth $807,000 after buying an additional 392,109 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 Canadian mineral development company focused on advancing the Pebble Project in southwest Alaska. Through its subsidiary, Pebble Mines Corp., the company holds an interest in the project, which is designed to develop a large deposit containing copper, gold, molybdenum and rhenium.

The Pebble Project is located in the Bristol Bay region, near the headwaters of important salmon fisheries. Northern Dynasty’s activities have centered on exploration, project engineering, environmental studies, permitting and engagement with regulators, local communities and Indigenous groups.