Zacks Investment Research upgraded shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $2.00 target price on the mining company’s stock.
According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “
NAK has been the subject of several other reports. HC Wainwright started coverage on shares of Northern Dynasty Minerals in a report on Thursday, October 19th. They set a buy rating and a $2.50 target price for the company. BidaskClub upgraded shares of Northern Dynasty Minerals from a sell rating to a hold rating in a report on Friday, October 13th. Finally, BMO Capital Markets upgraded shares of Northern Dynasty Minerals from a market perform rating to an outperform rating in a report on Tuesday, December 19th.
Northern Dynasty Minerals (NYSEAMERICAN NAK) opened at $1.68 on Thursday. Northern Dynasty Minerals has a 1-year low of $1.06 and a 1-year high of $3.45. The stock has a market cap of $513.70, a P/E ratio of -10.50 and a beta of 0.46.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Midas Management Corp purchased a new position in Northern Dynasty Minerals in the 3rd quarter worth approximately $108,000. PEAK6 Investments L.P. purchased a new position in Northern Dynasty Minerals in the 3rd quarter worth approximately $125,000. Smith Moore & CO. raised its holdings in Northern Dynasty Minerals by 340.7% in the 3rd quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock worth $132,000 after acquiring an additional 56,500 shares during the last quarter. LMR Partners LLP purchased a new position in Northern Dynasty Minerals in the 3rd quarter worth approximately $157,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Northern Dynasty Minerals by 826.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock worth $181,000 after acquiring an additional 115,999 shares during the last quarter.
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Northern Dynasty Minerals Company Profile
Northern Dynasty Minerals Ltd. is a mineral exploration company. The Company, through its subsidiaries, holds interest in mining claims on State of Alaska land in southwest Alaska, the United States, which are part of the Pebble Copper-Gold-Molybdenum Project (the Pebble Project). The Pebble Project is located in southwest Alaska, approximately 20 miles from the villages of Iliamna and Newhalen, and over 200 miles (approximately 320 kilometers) southwest of the city of Anchorage.
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