Northern Dynasty Minerals (NASDAQ:NAK) Trading Up 8.9% – Time to Buy?

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s share price shot up 8.9% during trading on Thursday . The stock traded as high as $1.38 and last traded at $1.34. 9,158,524 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 12,763,441 shares. The stock had previously closed at $1.23.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2.50.

Northern Dynasty Minerals Trading Down 1.5%

The firm has a fifty day simple moving average of $2.07. The firm has a market capitalization of $727.85 million, a price-to-earnings ratio of -10.83 and a beta of 0.08.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of NAK. Advance Capital Management Inc. purchased a new stake in shares of Northern Dynasty Minerals during the 3rd quarter valued at about $27,000. Perigon Wealth Management LLC purchased a new stake in Northern Dynasty Minerals in the third quarter worth approximately $228,000. Range Financial Group LLC grew its position in Northern Dynasty Minerals by 400.0% in the 3rd quarter. Range Financial Group LLC now owns 50,000 shares of the company’s stock worth $60,000 after purchasing an additional 40,000 shares during the period. Brookwood Investment Group LLC purchased a new stake in Northern Dynasty Minerals during the 3rd quarter valued at $63,000. Finally, GAM Holding AG lifted its holdings in shares of Northern Dynasty Minerals by 23.9% during the 3rd 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 during the period. Institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

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.