Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Strong Trading Volume – Should You Buy?

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) saw strong trading volume on Thursday . 4,479,630 shares were traded during trading, an increase of 63% from the previous session’s volume of 2,746,773 shares.The stock last traded at $1.08 and had previously closed at $0.91.

Analyst Ratings Changes

NAK has been the subject of a number of analyst reports. StockNews.com started coverage on shares of Northern Dynasty Minerals in a research note on Friday, December 27th. They set a “sell” rating for the company. HC Wainwright reissued a “buy” rating and set a $1.30 price target on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th. Finally, Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd.

Northern Dynasty Minerals Trading Down 16.6 %

The firm’s 50-day moving average is $0.76. The company has a market cap of $471.37 million, a PE ratio of -21.90 and a beta of 0.51.

Hedge Funds Weigh In On Northern Dynasty Minerals

Several hedge funds have recently added to or reduced their stakes in NAK. Squarepoint Ops LLC bought a new position in shares of Northern Dynasty Minerals during the fourth quarter valued at approximately $44,000. Two Sigma Advisers LP bought a new position in Northern Dynasty Minerals in the 4th quarter valued at $82,000. Two Sigma Investments LP purchased a new stake in Northern Dynasty Minerals in the fourth quarter worth $218,000. Tidal Investments LLC bought a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth $143,000. Finally, Bank of America Corp DE boosted its stake in shares of Northern Dynasty Minerals by 1,042.0% during the fourth quarter. Bank of America Corp DE now owns 138,092 shares of the mining company’s stock valued at $80,000 after purchasing an additional 126,000 shares during the period. 10.55% of the stock is currently owned by institutional investors.

Northern Dynasty Minerals Company Profile

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.