Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Passes Above 200-Day Moving Average – Here’s Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $0.70. Northern Dynasty Minerals shares last traded at $0.62, with a volume of 6,451,368 shares trading hands.

Analysts Set New Price Targets

NAK has been the topic of a number of research analyst reports. Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd. StockNews.com assumed coverage on shares of Northern Dynasty Minerals in a report on Friday, December 27th. They issued a “sell” rating for the company. Finally, HC Wainwright increased their target price on shares of Northern Dynasty Minerals from $0.80 to $1.30 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Northern Dynasty Minerals Stock Down 7.7 %

The company has a market cap of $334.30 million, a price-to-earnings ratio of -15.54 and a beta of 0.55.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several hedge funds have recently modified their holdings of NAK. Stifel Financial Corp raised its stake in Northern Dynasty Minerals by 71.8% during the 3rd quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after purchasing an additional 39,500 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Northern Dynasty Minerals during the third quarter valued at $33,000. XTX Topco Ltd raised its position in Northern Dynasty Minerals by 104.4% during the third quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock valued at $34,000 after buying an additional 52,346 shares during the period. Smith Anglin Financial LLC raised its position in Northern Dynasty Minerals by 61.5% during the third quarter. Smith Anglin Financial LLC now owns 105,000 shares of the mining company’s stock valued at $35,000 after buying an additional 40,000 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Northern Dynasty Minerals in the 3rd quarter worth about $60,000. 10.55% of the stock is owned by hedge funds and other 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.