Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up – What’s Next?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) gapped up before the market opened on Tuesday . The stock had previously closed at $1.16, but opened at $1.21. Northern Dynasty Minerals shares last traded at $1.16, with a volume of 6,204,984 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NAK. StockNews.com initiated coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a “sell” rating on the stock. HC Wainwright restated a “buy” rating and issued a $1.30 price objective on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group upgraded Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd.

Northern Dynasty Minerals Trading Up 6.5 %

The company has a market cap of $664.47 million, a P/E ratio of -30.88 and a beta of 0.51. The firm has a 50 day moving average price of $0.69.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAK. Stifel Financial Corp raised its holdings in shares of Northern Dynasty Minerals by 71.8% during the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock worth $31,000 after purchasing an additional 39,500 shares during the period. Invenomic Capital Management LP increased its position in Northern Dynasty Minerals by 145.4% in the third quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company’s stock worth $2,320,000 after buying an additional 4,145,767 shares during the period. BNP Paribas Financial Markets lifted its stake in Northern Dynasty Minerals by 673.8% in the third quarter. BNP Paribas Financial Markets now owns 1,227,304 shares of the mining company’s stock valued at $407,000 after buying an additional 1,068,704 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Northern Dynasty Minerals during the third quarter valued at $60,000. Finally, XTX Topco Ltd grew its position in shares of Northern Dynasty Minerals by 104.4% during the third quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock worth $34,000 after acquiring an additional 52,346 shares during the last quarter. Hedge funds and other institutional investors own 10.55% of the company’s stock.

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.