Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Large Volume Increase - What's Next?

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM saw unusually-strong trading volume on Wednesday . Approximately 4,420,676 shares traded hands during trading, an increase of 75% from the previous session's volume of 2,530,425 shares.The stock last traded at $1.19 and had previously closed at $1.19.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NAK. HC Wainwright reiterated a "buy" rating and set a $1.30 target price on shares of Northern Dynasty Minerals in a research note on Tuesday, February 4th. Canaccord Genuity Group upgraded Northern Dynasty Minerals to a "strong-buy" rating in a research report on Thursday, January 2nd. Finally, StockNews.com began coverage on shares of Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a "sell" rating for the company.

Northern Dynasty Minerals Stock Down 3.4 %

The company has a market cap of $602.59 million, a price-to-earnings ratio of -28.00 and a beta of 0.51. The company's 50 day moving average is $0.73.

Institutional Trading of Northern Dynasty Minerals

Hedge funds have recently added to or reduced their stakes in the stock. Allegheny Financial Group bought a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth $30,000. Stifel Financial Corp lifted its position in shares of Northern Dynasty Minerals by 71.8% in the 3rd quarter. Stifel Financial Corp now owns 94,500 shares of the mining company's stock worth $31,000 after purchasing an additional 39,500 shares during the period. RFG Advisory LLC bought a new stake in shares of Northern Dynasty Minerals in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Northern Dynasty Minerals during the third quarter worth approximately $33,000. Finally, XTX Topco Ltd increased its holdings in 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 purchasing an additional 52,346 shares in the last quarter. Institutional investors and hedge funds own 10.55% of the company's stock.

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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.