Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Strong Trading Volume – Here’s Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) saw unusually-high trading volume on Thursday . Approximately 4,479,630 shares changed hands 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 Upgrades and Downgrades

A number of brokerages have recently issued reports on NAK. HC Wainwright reiterated a “buy” rating and issued a $1.30 price target on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Canaccord Genuity Group upgraded Northern Dynasty Minerals to a “strong-buy” rating in a research note on Thursday, January 2nd. Finally, StockNews.com initiated coverage on shares of Northern Dynasty Minerals in a research report on Friday, December 27th. They set a “sell” rating for the company.

Northern Dynasty Minerals Price Performance

The stock has a fifty day simple moving average of $0.76. The stock has a market capitalization of $471.37 million, a price-to-earnings ratio of -21.90 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of large investors have recently modified their holdings of NAK. BNP Paribas Financial Markets raised 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 purchasing an additional 2,022,304 shares during the last quarter. Dauntless Investment Group LLC acquired a new position in Northern Dynasty Minerals in the 4th quarter worth approximately $1,233,000. Wells Fargo & Company MN raised its position in Northern Dynasty Minerals by 8.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company’s stock worth $592,000 after buying an additional 78,554 shares during the last quarter. Two Sigma Investments LP purchased a new position in Northern Dynasty Minerals during the 4th quarter worth approximately $218,000. Finally, XTX Topco Ltd boosted its holdings in shares of Northern Dynasty Minerals by 197.6% in the 4th quarter. XTX Topco Ltd now owns 305,080 shares of the mining company’s stock valued at $177,000 after acquiring an additional 202,580 shares during the last quarter. Hedge funds and other institutional investors 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.