Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sets New 12-Month High – Still a Buy?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $1.56 and last traded at $1.55, with a volume of 16102281 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Northern Dynasty Minerals to a “sell” rating in a research note on Wednesday, May 21st.

Northern Dynasty Minerals Stock Performance

The stock has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $0.79. The firm has a market cap of $836.05 million, a P/E ratio of -15.50 and a beta of -0.77.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NAK. Dauntless Investment Group LLC purchased a new position in shares of Northern Dynasty Minerals in the 4th quarter worth $1,233,000. BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 2,022,304 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Northern Dynasty Minerals in the first quarter worth about $823,000. Nations Financial Group Inc. IA ADV bought a new stake in shares of Northern Dynasty Minerals during the 1st quarter valued at about $460,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Northern Dynasty Minerals during the 4th quarter valued at about $218,000. 10.55% of the stock is owned by hedge funds and other institutional investors.

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.