Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK – Get Free Report) (TSE:NDM) shares gapped up prior to trading on Wednesday. The stock had previously closed at $1.45, but opened at $1.51. Northern Dynasty Minerals shares last traded at $1.5150, with a volume of 1,091,978 shares traded.
Wall Street Analyst Weigh In
Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Northern Dynasty Minerals presently has a consensus rating of “Buy” and a consensus target price of $2.50.
Read Our Latest Stock Report on NAK
Northern Dynasty Minerals Stock Performance
Institutional Investors Weigh In On Northern Dynasty Minerals
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Northern Dynasty Minerals by 45.2% during the 2nd quarter. State Street Corp now owns 613,758 shares of the mining company’s stock valued at $1,178,000 after buying an additional 191,058 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Northern Dynasty Minerals by 1,394.4% in the 2nd quarter. NewEdge Advisors LLC now owns 420,229 shares of the mining company’s stock worth $807,000 after buying an additional 392,109 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Northern Dynasty Minerals by 5.0% in the second quarter. HighTower Advisors LLC now owns 138,683 shares of the mining company’s stock worth $266,000 after acquiring an additional 6,550 shares during the period. Two Sigma Securities LLC lifted its holdings in Northern Dynasty Minerals by 183.1% in the second quarter. Two Sigma Securities LLC now owns 30,596 shares of the mining company’s stock valued at $59,000 after acquiring an additional 19,788 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Northern Dynasty Minerals in the second quarter valued at about $205,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.
About Northern Dynasty Minerals
Northern Dynasty Minerals Ltd. is a Canadian mineral development company focused on advancing the Pebble Project in southwest Alaska. Through its subsidiary, Pebble Mines Corp., the company holds an interest in the project, which is designed to develop a large deposit containing copper, gold, molybdenum and rhenium.
The Pebble Project is located in the Bristol Bay region, near the headwaters of important salmon fisheries. Northern Dynasty’s activities have centered on exploration, project engineering, environmental studies, permitting and engagement with regulators, local communities and Indigenous groups.
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