Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Large Volume Increase – Should You Buy?

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) saw unusually-strong trading volume on Wednesday . Approximately 4,420,676 shares changed hands during trading, an increase of 75% from the previous session’s volume of 2,530,425 shares.The stock last traded at $1.19 and had previously closed at $1.19.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $1.30 target price on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th. Canaccord Genuity Group upgraded Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd. Finally, StockNews.com began coverage on Northern Dynasty Minerals in a report on Friday, December 27th. They set a “sell” rating on the stock.

Northern Dynasty Minerals Stock Performance

The business has a 50-day simple moving average of $0.70. The firm has a market cap of $599.90 million, a P/E ratio of -27.88 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allegheny Financial Group purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth about $30,000. RFG Advisory LLC purchased a new stake in Northern Dynasty Minerals in the 4th quarter worth approximately $31,000. Squarepoint Ops LLC bought a new stake in shares of Northern Dynasty Minerals in the 4th quarter worth approximately $44,000. Game Plan Financial Advisors LLC increased its stake in shares of Northern Dynasty Minerals by 29.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock valued at $45,000 after buying an additional 18,000 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Northern Dynasty Minerals by 71.8% during the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after acquiring an additional 39,500 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. 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.