Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – What’s Next?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares gapped down prior to trading on Thursday . The stock had previously closed at $1.10, but opened at $1.06. Northern Dynasty Minerals shares last traded at $1.13, with a volume of 2,058,808 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NAK shares. HC Wainwright reaffirmed a “buy” rating and set a $1.30 price objective on shares of Northern Dynasty Minerals in a research note on Tuesday, February 4th. StockNews.com started coverage on shares of Northern Dynasty Minerals in a report on Friday, December 27th. They set a “sell” rating for the company. Finally, Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a research report on Thursday, January 2nd.

Northern Dynasty Minerals Stock Performance

The firm has a market cap of $602.59 million, a PE ratio of -28.00 and a beta of 0.51. The firm’s 50 day moving average price is $0.73.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in NAK. Invenomic Capital Management LP boosted its position in shares of Northern Dynasty Minerals by 145.4% during the 3rd quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company’s stock valued at $2,320,000 after acquiring an additional 4,145,767 shares during the last quarter. Dauntless Investment Group LLC acquired a new stake in Northern Dynasty Minerals during the 4th quarter worth $1,233,000. BNP Paribas Financial Markets raised its position in Northern Dynasty Minerals by 164.8% in the 4th quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company’s stock valued at $1,890,000 after purchasing an additional 2,022,304 shares during the last quarter. Two Sigma Investments LP purchased a new position in Northern Dynasty Minerals in the 4th quarter valued at $218,000. Finally, Tidal Investments LLC acquired a new position in Northern Dynasty Minerals during the 4th quarter worth approximately $143,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.