Northern Dynasty Minerals (NYSEAMERICAN:NAK) Share Price Passes Above 200-Day Moving Average – What’s Next?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.53 and traded as high as $2.19. Northern Dynasty Minerals shares last traded at $2.13, with a volume of 7,604,985 shares traded.

Northern Dynasty Minerals Trading Down 4.1%

The stock has a market cap of $1.18 billion, a P/E ratio of -17.75 and a beta of -0.06. The firm’s fifty day moving average is $1.94 and its 200 day moving average is $1.53.

Institutional Trading of Northern Dynasty Minerals

Hedge funds have recently added to or reduced their stakes in the business. Marex Group plc bought a new position in Northern Dynasty Minerals during the second quarter worth $43,000. Hudson Bay Capital Management LP bought a new position in shares of Northern Dynasty Minerals during the 2nd quarter worth approximately $335,000. Bank of America Corp DE boosted its stake in Northern Dynasty Minerals by 77.4% in the 2nd quarter. Bank of America Corp DE now owns 367,285 shares of the mining company’s stock valued at $492,000 after buying an additional 160,285 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Northern Dynasty Minerals in the 2nd quarter valued at $31,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Northern Dynasty Minerals in the second quarter valued at $17,117,000. Institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. is a mineral exploration and development company headquartered in Vancouver, British Columbia, with primary operations focused on North America. The company is publicly listed on the NYSE American and the Toronto Stock Exchange under the symbol NAK. Established in 1985, Northern Dynasty has built its business around the identification, evaluation and advancement of large-scale mineral resources, leveraging its expertise in geology, engineering and environmental planning.

The company’s flagship asset is the Pebble Project, located in the Bristol Bay region of southwestern Alaska.