Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – Here’s What Happened

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped down prior to trading on Thursday . The stock had previously closed at $1.10, but opened at $1.06. Northern Dynasty Minerals shares last traded at $1.13, with a volume of 2,058,808 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com assumed coverage on Northern Dynasty Minerals in a report on Friday, December 27th. They issued a “sell” rating for the company. HC Wainwright restated a “buy” rating and set a $1.30 price objective on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group upgraded shares of Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd.

Northern Dynasty Minerals Price Performance

The company has a 50-day moving average of $0.71. The firm has a market cap of $599.90 million, a price-to-earnings ratio of -27.88 and a beta of 0.51.

Institutional Trading of Northern Dynasty Minerals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invenomic Capital Management LP grew its holdings in shares of Northern Dynasty Minerals by 145.4% during the 3rd quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company’s stock valued at $2,320,000 after acquiring an additional 4,145,767 shares in the last quarter. Dauntless Investment Group LLC bought a new stake in Northern Dynasty Minerals during the 4th quarter valued at approximately $1,233,000. BNP Paribas Financial Markets grew its stake in shares of Northern Dynasty Minerals by 164.8% in the fourth quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company’s stock worth $1,890,000 after acquiring an additional 2,022,304 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Northern Dynasty Minerals during the 4th quarter worth about $218,000. Finally, Tidal Investments LLC bought a new position in Northern Dynasty Minerals during the fourth quarter valued at about $143,000. Institutional investors and hedge funds 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.