Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Down 7.3% – Should You Sell?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares traded down 7.3% on Friday . The company traded as low as $1.59 and last traded at $1.5850. Approximately 1,070,171 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 8,961,693 shares. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Price Performance

The company has a market cap of $890.96 million, a price-to-earnings ratio of -17.50 and a beta of 0.67. The firm’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $1.85.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last posted its earnings results on Friday, May 15th. The mining company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. On average, analysts forecast that Northern Dynasty Minerals, Ltd. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in NAK. Kopernik Global Investors LLC lifted its holdings in shares of 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 buying an additional 10,994,668 shares during the period. Bornite Capital Management LP purchased a new position in shares of Northern Dynasty Minerals in the 4th quarter valued at about $10,608,000. Public Employees Retirement System of Ohio purchased a new position in shares of Northern Dynasty Minerals in the 1st quarter valued at about $161,000. Renaissance Technologies LLC purchased a new stake in shares of Northern Dynasty Minerals during the 1st quarter worth approximately $6,244,000. Finally, Kestra Advisory Services LLC increased its position in shares of Northern Dynasty Minerals by 24.5% in the first quarter. Kestra Advisory Services LLC now owns 31,484 shares of the mining company’s stock valued at $44,000 after buying an additional 6,194 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 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.