Northern Dynasty Minerals (NYSEAMERICAN:NAK) Stock Price Up 8.6% – Time to Buy?

Northern Dynasty Minerals, Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) rose 8.6% on Thursday . The stock traded as high as $1.30 and last traded at $1.3360. Approximately 4,589,569 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 12,613,068 shares. The stock had previously closed at $1.23.

Northern Dynasty Minerals Stock Up 7.7%

The firm has a market cap of $741.84 million, a price-to-earnings ratio of -11.12 and a beta of 0.08. The business has a 50 day moving average price of $2.11 and a 200-day moving average price of $1.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAM Holding AG purchased a new position in Northern Dynasty Minerals in the 2nd quarter valued at about $3,752,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Northern Dynasty Minerals by 100.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,466,300 shares of the mining company’s stock worth $1,983,000 after acquiring an additional 735,300 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in shares of Northern Dynasty Minerals by 986.5% in the second quarter. FNY Investment Advisers LLC now owns 217,300 shares of the mining company’s stock worth $291,000 after acquiring an additional 197,300 shares in the last quarter. XTX Topco Ltd boosted its holdings in Northern Dynasty Minerals by 232.7% in the second quarter. XTX Topco Ltd now owns 636,134 shares of the mining company’s stock valued at $852,000 after purchasing an additional 444,950 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new position in Northern Dynasty Minerals in the second quarter valued at about $54,000. 10.55% of the stock is currently owned by hedge funds and other institutional investors.

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.