Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 8.8% – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) fell 8.8% on Tuesday . The stock traded as low as $1.74 and last traded at $1.7050. 1,215,918 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 9,423,424 shares. The stock had previously closed at $1.87.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $2.50.

Northern Dynasty Minerals Trading Down 9.4%

The stock’s 50 day moving average is $2.05 and its 200 day moving average is $1.90. The stock has a market capitalization of $952.62 million, a price-to-earnings ratio of -18.83 and a beta of 0.67.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last announced its earnings results on Friday, May 15th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. On average, sell-side analysts anticipate that Northern Dynasty Minerals, Ltd. will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Northern Dynasty Minerals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kopernik Global Investors LLC grew its holdings in Northern Dynasty Minerals by 50.8% during the 1st quarter. Kopernik Global Investors LLC now owns 32,655,846 shares of the mining company’s stock valued at $45,718,000 after buying an additional 10,994,668 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Northern Dynasty Minerals by 11.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,088,681 shares of the mining company’s stock valued at $17,110,000 after acquiring an additional 1,442,764 shares in the last quarter. Millennium Management LLC lifted its position in shares of Northern Dynasty Minerals by 203.3% in the fourth quarter. Millennium Management LLC now owns 13,364,357 shares of the mining company’s stock valued at $26,318,000 after acquiring an additional 8,957,529 shares in the last quarter. Bornite Capital Management LP acquired a new stake in shares of Northern Dynasty Minerals during the fourth quarter valued at $10,608,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Northern Dynasty Minerals during the first quarter valued at $6,244,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company 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.