Northern Dynasty Minerals (NASDAQ:NAK) Trading Up 9% – Time to Buy?

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s stock price rose 9% during trading on Monday . The company traded as high as $2.41 and last traded at $2.41. Approximately 1,215,875 shares traded hands during trading, a decline of 88% from the average daily volume of 10,276,976 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Friday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Up 6.3%

The company has a 50-day moving average of $1.94. The stock has a market cap of $1.30 billion, a PE ratio of -19.58 and a beta of -0.11.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the business. PFG Investments LLC grew its stake in Northern Dynasty Minerals by 91.6% during the 3rd quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock valued at $25,000 after acquiring an additional 10,081 shares in the last quarter. Advance Capital Management Inc. acquired a new stake in Northern Dynasty Minerals during the third quarter worth about $27,000. Private Advisor Group LLC raised its stake in Northern Dynasty Minerals by 66.7% during the third quarter. Private Advisor Group LLC now owns 25,000 shares of the company’s stock worth $30,000 after purchasing an additional 10,000 shares during the period. Advisory Alpha LLC acquired a new stake in shares of Northern Dynasty Minerals during the 3rd quarter worth approximately $33,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Northern Dynasty Minerals by 374.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 30,467 shares of the company’s stock valued at $37,000 after buying an additional 24,051 shares during the period. 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.