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

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.10, but opened at $1.06. Northern Dynasty Minerals shares last traded at $1.13, with a volume of 2,058,808 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $1.30 target price on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th. Canaccord Genuity Group raised shares of Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd. Finally, StockNews.com initiated coverage on shares of Northern Dynasty Minerals in a research note on Friday, December 27th. They set a “sell” rating for the company.

Northern Dynasty Minerals Stock Performance

The company has a market cap of $602.59 million, a PE ratio of -28.00 and a beta of 0.51. The stock’s 50-day moving average price is $0.73.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invenomic Capital Management LP raised its stake in Northern Dynasty Minerals by 145.4% during the 3rd quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company’s stock valued at $2,320,000 after purchasing an additional 4,145,767 shares during the period. Dauntless Investment Group LLC bought a new stake in Northern Dynasty Minerals in the fourth quarter worth approximately $1,233,000. BNP Paribas Financial Markets increased its stake in shares of Northern Dynasty Minerals by 164.8% in the fourth quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company’s stock worth $1,890,000 after purchasing an additional 2,022,304 shares during the period. Two Sigma Investments LP acquired a new position in shares of Northern Dynasty Minerals during the fourth quarter worth approximately $218,000. Finally, Tidal Investments LLC acquired a new position in Northern Dynasty Minerals during the 4th quarter valued at $143,000. 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.