Northern Dynasty Minerals (NASDAQ:NAK) Trading Down 3.4% – Time to Sell?

Northern Dynasty Minerals Ltd (NASDAQ:NAK) shares fell 3.4% on Wednesday . The company traded as low as $2.22 and last traded at $2.24. 3,922,206 shares were traded during trading, a decline of 62% from the average session volume of 10,261,155 shares. The stock had previously closed at $2.32.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Northern Dynasty Minerals currently has a consensus rating of “Buy” and a consensus target price of $2.50.

Northern Dynasty Minerals Stock Performance

The firm has a 50-day moving average of $1.92. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -18.67 and a beta of -0.11.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in Northern Dynasty Minerals by 369.5% during the 3rd quarter. Millennium Management LLC now owns 4,406,828 shares of the company’s stock valued at $5,288,000 after purchasing an additional 3,468,174 shares during the last quarter. Wexford Capital LP grew its stake in Northern Dynasty Minerals by 423.8% during the third quarter. Wexford Capital LP now owns 2,978,971 shares of the company’s stock worth $3,575,000 after buying an additional 2,410,269 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Northern Dynasty Minerals during the third quarter worth approximately $2,444,000. Two Sigma Investments LP increased its holdings in shares of Northern Dynasty Minerals by 306.7% during the third quarter. Two Sigma Investments LP now owns 2,218,984 shares of the company’s stock worth $2,663,000 after buying an additional 1,673,333 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Northern Dynasty Minerals in the third quarter valued at approximately $2,011,000. 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. 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.