Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) Sees Significant Decrease in Short Interest

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 6,530,000 shares, a drop of 12.0% from the January 31st total of 7,420,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,540,000 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of hedge funds have recently bought and sold shares of NAK. Game Plan Financial Advisors LLC grew its position in shares of Northern Dynasty Minerals by 29.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company's stock valued at $45,000 after buying an additional 18,000 shares during the last quarter. Smith Anglin Financial LLC increased its holdings in shares of Northern Dynasty Minerals by 19.0% during the fourth quarter. Smith Anglin Financial LLC now owns 125,000 shares of the mining company's stock valued at $73,000 after purchasing an additional 20,000 shares during the period. Stifel Financial Corp increased its stake in shares of Northern Dynasty Minerals by 71.8% during the third quarter. Stifel Financial Corp now owns 94,500 shares of the mining company's stock valued at $31,000 after acquiring an additional 39,500 shares during the period. Allegheny Financial Group bought a new stake in shares of Northern Dynasty Minerals in the 4th quarter worth approximately $30,000. Finally, XTX Topco Ltd lifted its position in shares of Northern Dynasty Minerals by 104.4% during the 3rd quarter. XTX Topco Ltd now owns 102,500 shares of the mining company's stock valued at $34,000 after acquiring an additional 52,346 shares during the last quarter. 10.55% of the stock is currently owned by institutional investors and hedge funds.

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Northern Dynasty Minerals Stock Performance

NAK traded down $0.07 on Monday, reaching $0.66. The company's stock had a trading volume of 4,552,760 shares, compared to its average volume of 2,154,230. The firm has a 50 day moving average of $0.64. Northern Dynasty Minerals has a 1 year low of $0.27 and a 1 year high of $0.78. The firm has a market cap of $355.10 million, a PE ratio of -16.50 and a beta of 0.51.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NAK. HC Wainwright reissued a "buy" rating and issued a $1.30 price objective on shares of Northern Dynasty Minerals in a research note on Tuesday, February 4th. Canaccord Genuity Group raised Northern Dynasty Minerals to a "strong-buy" rating in a research report on Thursday, January 2nd. Finally, StockNews.com started coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a "sell" rating on the stock.

About Northern Dynasty Minerals

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.