Northern Dynasty Minerals (NASDAQ:NAK) Trading Down 7.1% – Here’s What Happened

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

Analyst Ratings Changes

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

Northern Dynasty Minerals Price Performance

The company has a market capitalization of $795.03 million, a P/E ratio of -11.83 and a beta of 0.08. The company has a 50 day moving average of $2.01.

Hedge Funds Weigh In On Northern Dynasty Minerals

Large investors have recently made changes to their positions in the business. Advance Capital Management Inc. acquired a new position in shares of Northern Dynasty Minerals in the 3rd quarter worth approximately $27,000. Perigon Wealth Management LLC bought a new stake in Northern Dynasty Minerals during the third quarter worth approximately $228,000. Range Financial Group LLC grew its position in Northern Dynasty Minerals by 400.0% in the third quarter. Range Financial Group LLC now owns 50,000 shares of the company’s stock worth $60,000 after buying an additional 40,000 shares during the last quarter. Brookwood Investment Group LLC bought a new position in shares of Northern Dynasty Minerals in the third quarter valued at $63,000. Finally, GAM Holding AG increased its holdings in shares of Northern Dynasty Minerals by 23.9% in the third quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock valued at $4,163,000 after buying an additional 669,100 shares in the last quarter. 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. 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.