Renaissance Technologies LLC Takes $6.24 Million Position in Northern Dynasty Minerals, Ltd. $NAK

Renaissance Technologies LLC bought a new position in shares of Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,460,149 shares of the mining company’s stock, valued at approximately $6,244,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank acquired a new stake in Northern Dynasty Minerals during the 1st quarter worth approximately $1,532,000. Kopernik Global Investors LLC increased its holdings in shares of Northern Dynasty Minerals by 50.8% in the first quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock valued at $45,718,000 after purchasing an additional 10,994,668 shares during the period. Bornite Capital Management LP acquired a new position in shares of Northern Dynasty Minerals in the fourth quarter valued at approximately $10,608,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Northern Dynasty Minerals by 6,449.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 43,095 shares of the mining company’s stock worth $85,000 after purchasing an additional 42,437 shares during the last quarter. Finally, Hibernia Wealth Partners LLC purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 10.55% of the company’s stock.

Northern Dynasty Minerals Stock Up 9.6%

Shares of Northern Dynasty Minerals stock opened at $1.60 on Wednesday. The firm has a market cap of $899.39 million, a price-to-earnings ratio of -17.78 and a beta of 0.71. Northern Dynasty Minerals, Ltd. has a 52-week low of $0.77 and a 52-week high of $2.98. The company’s 50-day simple moving average is $1.85 and its 200-day simple moving average is $1.82.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last announced its quarterly earnings data on Friday, May 15th. The mining company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Equities research analysts anticipate that Northern Dynasty Minerals, Ltd. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2.50.

Northern Dynasty Minerals Profile

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company’s flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.