Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.62 and traded as high as $2.09. Northern Dynasty Minerals shares last traded at $2.06, with a volume of 6,010,802 shares.

Northern Dynasty Minerals Stock Performance

The firm’s 50 day simple moving average is $2.11 and its 200-day simple moving average is $1.62. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -17.17 and a beta of 0.08.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of large investors have recently made changes to their positions in NAK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Northern Dynasty Minerals in the second quarter worth approximately $17,117,000. GAM Holding AG acquired a new position in Northern Dynasty Minerals in the 2nd quarter valued at approximately $3,752,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Northern Dynasty Minerals by 100.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company’s stock valued at $1,983,000 after buying an additional 735,300 shares during the period. XTX Topco Ltd lifted its position in Northern Dynasty Minerals by 232.7% in the 2nd quarter. XTX Topco Ltd now owns 636,134 shares of the mining company’s stock worth $852,000 after buying an additional 444,950 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Northern Dynasty Minerals by 77.4% during 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 during the period. Institutional investors and hedge funds 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.