Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down – Should You Sell?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $2.24, but opened at $1.96. Northern Dynasty Minerals shares last traded at $2.06, with a volume of 12,767,421 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on Northern Dynasty Minerals from $1.30 to $2.50 and gave the stock a “buy” rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Northern Dynasty Minerals has an average rating of “Strong Buy” and an average target price of $2.50.

Northern Dynasty Minerals Stock Down 8.5%

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -18.64 and a beta of -0.60. The stock has a 50 day moving average of $1.18 and a 200 day moving average of $1.17.

Hedge Funds Weigh In On Northern Dynasty Minerals

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in Northern Dynasty Minerals in the first quarter worth about $80,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Northern Dynasty Minerals in the first quarter valued at approximately $823,000. Wealth Enhancement Advisory Services LLC boosted its stake in Northern Dynasty Minerals by 37.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,320 shares of the mining company’s stock valued at $26,000 after acquiring an additional 5,000 shares during the period. Nations Financial Group Inc. IA ADV acquired a new position in Northern Dynasty Minerals in the first quarter valued at approximately $460,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Northern Dynasty Minerals in the first quarter valued at approximately $56,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

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.