Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Down 5.7% – Here’s What Happened

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) were down 5.7% on Tuesday . The company traded as low as $1.09 and last traded at $1.09. Approximately 3,524,622 shares changed hands during trading, an increase of 32% from the average daily volume of 2,668,722 shares. The stock had previously closed at $1.15.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Trading Down 5.7 %

The firm has a market cap of $583.76 million, a price-to-earnings ratio of -27.13 and a beta of 0.51. The company has a fifty day simple moving average of $0.74.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NAK. Game Plan Financial Advisors LLC raised its holdings in shares of Northern Dynasty Minerals by 29.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock worth $45,000 after purchasing an additional 18,000 shares during the period. Smith Anglin Financial LLC raised its holdings in Northern Dynasty Minerals by 19.0% in the fourth quarter. Smith Anglin Financial LLC now owns 125,000 shares of the mining company’s stock valued at $73,000 after buying an additional 20,000 shares during the period. Stifel Financial Corp raised its holdings in Northern Dynasty Minerals by 71.8% in the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after buying an additional 39,500 shares during the period. Allegheny Financial Group acquired a new position in Northern Dynasty Minerals during the fourth quarter valued at approximately $30,000. Finally, XTX Topco Ltd increased its position in shares of Northern Dynasty Minerals by 104.4% in 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 in the last quarter. 10.55% of the stock is currently 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.