Northern Dynasty Minerals (NASDAQ:NAK) Stock Price Down 7.1% – Here’s Why

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s stock price traded down 7.1% on Monday . The company traded as low as $1.44 and last traded at $1.44. 1,627,408 shares were traded during mid-day trading, a decline of 87% from the average session volume of 12,575,982 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $2.50.

Northern Dynasty Minerals Stock Down 8.4%

The stock has a market cap of $795.03 million, a PE ratio of -11.83 and a beta of 0.08. The business has a 50 day simple moving average of $2.01.

Hedge Funds Weigh In On Northern Dynasty Minerals

Large investors have recently bought and sold shares of the business. PFG Investments LLC boosted its stake in Northern Dynasty Minerals by 91.6% in the third quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock valued at $25,000 after acquiring an additional 10,081 shares during the period. Investment Planning Advisors Inc. acquired a new position in Northern Dynasty Minerals during the 4th quarter valued at approximately $26,000. Brookstone Capital Management bought a new position in Northern Dynasty Minerals during the 4th quarter worth $26,000. Merit Financial Group LLC acquired a new stake in Northern Dynasty Minerals in the fourth quarter worth $26,000. Finally, Advance Capital Management Inc. bought a new stake in Northern Dynasty Minerals in the third quarter valued at $27,000. Institutional investors 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.