Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading Down 8.8% – Here’s What Happened

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price dropped 8.8% during mid-day trading on Tuesday . The company traded as low as $1.74 and last traded at $1.7050. 1,215,918 shares were traded during mid-day trading, a decline of 87% from the average session volume of 9,423,424 shares. The stock had previously closed at $1.87.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Northern Dynasty Minerals currently has a consensus rating of “Buy” and an average target price of $2.50.

Northern Dynasty Minerals Stock Down 9.4%

The firm has a market cap of $952.62 million, a price-to-earnings ratio of -18.83 and a beta of 0.67. The firm has a fifty day moving average price of $2.05 and a 200-day moving average price of $1.90.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last released its earnings results on Friday, May 15th. The mining company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Equities research analysts anticipate that Northern Dynasty Minerals, Ltd. will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NAK. Cubist Systematic Strategies LLC acquired a new stake in shares of Northern Dynasty Minerals in the first quarter worth approximately $25,000. Merit Financial Group LLC acquired a new position in Northern Dynasty Minerals during the fourth quarter worth approximately $26,000. Investment Planning Advisors Inc. purchased a new position in Northern Dynasty Minerals during the fourth quarter worth approximately $26,000. Brookstone Capital Management purchased a new position in Northern Dynasty Minerals during the fourth quarter worth approximately $26,000. Finally, SevenBridge Financial Group LLC boosted its holdings in shares of Northern Dynasty Minerals by 68.2% in the 1st quarter. SevenBridge Financial Group LLC now owns 18,500 shares of the mining company’s stock valued at $26,000 after purchasing an additional 7,500 shares during the last quarter. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company’s flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.