Northern Dynasty Minerals (NASDAQ:NAK) Stock Price Up 9.9% – Here’s Why

Northern Dynasty Minerals Ltd (NASDAQ:NAK) traded up 9.9% during mid-day trading on Tuesday . The stock traded as high as $1.73 and last traded at $1.7150. 4,912,370 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 10,572,625 shares. The stock had previously closed at $1.56.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2.50.

Northern Dynasty Minerals Trading Up 10.6%

The stock has a market capitalization of $953.04 million, a price-to-earnings ratio of -14.38 and a beta of -0.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC raised its holdings in Northern Dynasty Minerals by 91.6% in the third quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock worth $25,000 after purchasing an additional 10,081 shares in the last quarter. Advance Capital Management Inc. purchased a new position in Northern Dynasty Minerals in the third quarter valued at $27,000. Private Advisor Group LLC boosted its position in Northern Dynasty Minerals by 66.7% during the third quarter. Private Advisor Group LLC now owns 25,000 shares of the company’s stock worth $30,000 after purchasing an additional 10,000 shares in the last quarter. Advisory Alpha LLC acquired a new stake in Northern Dynasty Minerals in the 3rd quarter valued at $33,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Northern Dynasty Minerals by 374.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 30,467 shares of the company’s stock worth $37,000 after purchasing an additional 24,051 shares during the last quarter. 10.55% of the stock is currently owned by institutional investors.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is 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, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage.