Traders Buy High Volume of Call Options on Northern Dynasty Minerals (NASDAQ:NAK)

Northern Dynasty Minerals Ltd (NASDAQ:NAK) was the recipient of unusually large options trading activity on Monday. Traders acquired 32,271 call options on the company. This represents an increase of approximately 68% compared to the typical daily volume of 19,163 call options.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Northern Dynasty Minerals by 11.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,088,681 shares of the company’s stock worth $17,110,000 after purchasing an additional 1,442,764 shares in the last quarter. Millennium Management LLC grew its stake in Northern Dynasty Minerals by 369.5% during the third quarter. Millennium Management LLC now owns 4,406,828 shares of the company’s stock worth $5,288,000 after buying an additional 3,468,174 shares during the last quarter. GAM Holding AG increased its holdings in shares of Northern Dynasty Minerals by 23.9% during the third quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock worth $4,163,000 after buying an additional 669,100 shares in the last quarter. Wexford Capital LP raised its stake in shares of Northern Dynasty Minerals by 423.8% in the third quarter. Wexford Capital LP now owns 2,978,971 shares of the company’s stock valued at $3,575,000 after acquiring an additional 2,410,269 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Northern Dynasty Minerals by 306.7% in the third quarter. Two Sigma Investments LP now owns 2,218,984 shares of the company’s stock valued at $2,663,000 after acquiring an additional 1,673,333 shares during the last quarter. Institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Trading Up 12.7%

Shares of NAK stock opened at $2.40 on Tuesday. The company has a fifty day moving average of $2.01. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -20.00 and a beta of -0.06. Northern Dynasty Minerals has a one year low of $0.55 and a one year high of $2.98.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $2.50.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is 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, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd.