Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Large Volume Increase – Should You Buy?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares saw unusually-strong trading volume on Wednesday . Approximately 4,420,676 shares traded hands during mid-day trading, an increase of 75% from the previous session’s volume of 2,530,425 shares.The stock last traded at $1.19 and had previously closed at $1.19.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Northern Dynasty Minerals in a research note on Friday, December 27th. They set a “sell” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $1.30 price objective on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th. 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 Stock Performance

The stock has a 50 day moving average price of $0.72. The stock has a market capitalization of $624.11 million, a PE ratio of -29.00 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in Northern Dynasty Minerals in the fourth quarter valued at approximately $44,000. Two Sigma Advisers LP purchased a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth $82,000. Two Sigma Investments LP acquired a new position in shares of Northern Dynasty Minerals during the fourth quarter worth $218,000. Tidal Investments LLC purchased a new position in Northern Dynasty Minerals in the fourth quarter valued at $143,000. Finally, Bank of America Corp DE increased its holdings in Northern Dynasty Minerals by 1,042.0% in the fourth quarter. Bank of America Corp DE now owns 138,092 shares of the mining company’s stock valued at $80,000 after buying an additional 126,000 shares during the last quarter. 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. 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.