Northern Dynasty Minerals (NASDAQ:NAK) Trading Down 5.4% – Here’s Why

Northern Dynasty Minerals Ltd (NASDAQ:NAK)’s share price traded down 5.4% during trading on Wednesday . The company traded as low as $1.92 and last traded at $1.93. 2,662,714 shares traded hands during trading, a decline of 74% from the average session volume of 10,412,467 shares. The stock had previously closed at $2.04.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2.50.

Northern Dynasty Minerals Price Performance

The company has a fifty day moving average of $1.91. The company has a market cap of $1.10 billion, a PE ratio of -16.67 and a beta of -0.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advance Capital Management Inc. acquired a new position in Northern Dynasty Minerals during the third quarter worth $27,000. Perigon Wealth Management LLC acquired a new stake in Northern Dynasty Minerals in the 3rd quarter worth about $228,000. Range Financial Group LLC grew its holdings in Northern Dynasty Minerals by 400.0% in the third quarter. Range Financial Group LLC now owns 50,000 shares of the company’s stock valued at $60,000 after purchasing an additional 40,000 shares during the period. Brookwood Investment Group LLC acquired a new stake in shares of Northern Dynasty Minerals during the 3rd quarter worth $63,000. Finally, GAM Holding AG boosted its holdings in Northern Dynasty Minerals by 23.9% in the third quarter. GAM Holding AG now owns 3,469,100 shares of the company’s stock valued at $4,163,000 after acquiring an additional 669,100 shares during the last quarter. Hedge funds and other institutional investors own 10.55% of the company’s stock.

About Northern Dynasty Minerals

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.