Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Up 4.7% – Here’s Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shot up 4.7% during trading on Friday . The company traded as high as $1.23 and last traded at $1.22. 5,302,752 shares were traded during trading, an increase of 103% from the average session volume of 2,611,197 shares. The stock had previously closed at $1.16.

Analysts Set New Price Targets

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

Northern Dynasty Minerals Trading Down 3.4 %

The firm has a fifty day moving average price of $0.73. The stock has a market cap of $602.59 million, a price-to-earnings ratio of -28.00 and a beta of 0.51.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp boosted its position in shares of Northern Dynasty Minerals by 71.8% in the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock worth $31,000 after buying an additional 39,500 shares during the period. Invenomic Capital Management LP lifted its position in shares of Northern Dynasty Minerals by 145.4% during the third quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company’s stock worth $2,320,000 after purchasing an additional 4,145,767 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Northern Dynasty Minerals by 673.8% in the third quarter. BNP Paribas Financial Markets now owns 1,227,304 shares of the mining company’s stock valued at $407,000 after purchasing an additional 1,068,704 shares during the period. Virtu Financial LLC acquired a new stake in Northern Dynasty Minerals during the 3rd quarter valued at $60,000. Finally, XTX Topco Ltd grew its holdings in Northern Dynasty Minerals by 104.4% during the 3rd quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock valued at $34,000 after purchasing an additional 52,346 shares in the last quarter. Institutional investors and hedge funds 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.