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

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $0.98, but opened at $0.90. Northern Dynasty Minerals shares last traded at $1.02, with a volume of 2,292,936 shares.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Price Performance

The stock has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $0.61. The firm has a market capitalization of $556.86 million, a price-to-earnings ratio of -25.88 and a beta of 0.51.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently modified their holdings of NAK. Game Plan Financial Advisors LLC raised its holdings in Northern Dynasty Minerals by 29.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock worth $45,000 after purchasing an additional 18,000 shares in the last quarter. Smith Anglin Financial LLC raised its stake in Northern Dynasty Minerals by 19.0% during the 4th quarter. Smith Anglin Financial LLC now owns 125,000 shares of the mining company’s stock worth $73,000 after acquiring an additional 20,000 shares in the last quarter. Stifel Financial Corp lifted its position in Northern Dynasty Minerals by 71.8% in the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after acquiring an additional 39,500 shares during the last quarter. Allegheny Financial Group acquired a new position in Northern Dynasty Minerals in the fourth quarter valued at $30,000. Finally, XTX Topco Ltd grew its holdings in shares of Northern Dynasty Minerals by 104.4% during the third quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock worth $34,000 after purchasing an additional 52,346 shares during the last quarter. Institutional investors and hedge funds own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.