Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Up – Time to Buy?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $1.16, but opened at $1.21. Northern Dynasty Minerals shares last traded at $1.16, with a volume of 6,204,984 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group raised shares of Northern Dynasty Minerals to a “strong-buy” rating in a report on Thursday, January 2nd. StockNews.com started coverage on shares of Northern Dynasty Minerals in a research note on Friday, December 27th. They set a “sell” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $1.30 target price on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th.

Northern Dynasty Minerals Stock Up 6.5 %

The stock has a market cap of $664.47 million, a P/E ratio of -30.88 and a beta of 0.51. The stock has a 50-day simple moving average of $0.69.

Institutional Trading of Northern Dynasty Minerals

Several institutional investors and hedge funds have recently modified their holdings of NAK. Allegheny Financial Group purchased a new position in Northern Dynasty Minerals in the 4th quarter valued at about $30,000. Stifel Financial Corp grew its holdings in Northern Dynasty Minerals by 71.8% in the 3rd quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after buying an additional 39,500 shares during the period. RFG Advisory LLC acquired a new position in shares of Northern Dynasty Minerals during the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Northern Dynasty Minerals during the 3rd quarter worth about $33,000. Finally, XTX Topco Ltd boosted its position in shares of Northern Dynasty Minerals by 104.4% in the third quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock worth $34,000 after acquiring an additional 52,346 shares during the last quarter. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in 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, the United States.