Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Falls 7.3% – Time to Sell?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares were down 7.3% during trading on Wednesday. The company traded as low as $1.20 and last traded at $1.2050. Approximately 2,404,070 shares changed hands during trading, a decline of 68% from the average session volume of 7,620,589 shares. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

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

Northern Dynasty Minerals Stock Performance

The firm’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.74. The company has a market cap of $646.47 million, a P/E ratio of -10.45 and a beta of 0.84.

Institutional Trading of Northern Dynasty Minerals

Large investors have recently made changes to their positions in the company. Kopernik Global Investors LLC raised its stake in Northern Dynasty Minerals by 50.8% during the 1st quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock worth $45,718,000 after buying an additional 10,994,668 shares during the period. Bornite Capital Management LP acquired a new stake in Northern Dynasty Minerals in the fourth quarter valued at approximately $10,608,000. Renaissance Technologies LLC bought a new stake in shares of Northern Dynasty Minerals during the first quarter valued at approximately $6,244,000. Swiss National Bank bought a new position in shares of Northern Dynasty Minerals in the 1st quarter worth $1,532,000. Finally, TD Asset Management Inc grew its position in Northern Dynasty Minerals by 6.1% in the 2nd quarter. TD Asset Management Inc now owns 883,455 shares of the mining company’s stock valued at $1,688,000 after purchasing an additional 50,725 shares during the period. 10.55% of the stock is currently owned by institutional investors and hedge funds.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a Canadian mineral exploration and development company focused on advancing the Pebble Project in southwestern Alaska. The company’s principal asset is the Pebble copper-gold-molybdenum-rhenium deposit, a large undeveloped mineral resource located in the Bristol Bay region.

Northern Dynasty holds its interest in the Pebble Project through its wholly owned subsidiary, Pebble Mines Corp. The project is intended to be evaluated and developed as a potential large-scale mining operation, although Northern Dynasty is an exploration and development company and does not currently produce or sell minerals.

Founded in 1983 and headquartered in Vancouver, British Columbia, Northern Dynasty has concentrated its activities primarily in Alaska.