Northern Dynasty Minerals (NYSEAMERICAN:NAK) Share Price Passes Above 200 Day Moving Average - What's Next?

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $0.72. Northern Dynasty Minerals shares last traded at $0.71, with a volume of 1,760,838 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NAK. HC Wainwright restated a "buy" rating and issued a $1.30 price target 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 assumed coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They set a "sell" rating for the company.

Northern Dynasty Minerals Stock Performance

The stock has a market cap of $479.71 million, a P/E ratio of -22.29 and a beta of 0.51. The stock's 50-day simple moving average is $0.68.

Institutional Trading of Northern Dynasty Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of NAK. Invenomic Capital Management LP increased its position in Northern Dynasty Minerals by 145.4% in the third quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company's stock worth $2,320,000 after buying an additional 4,145,767 shares in the last quarter. Dauntless Investment Group LLC bought a new position in shares of Northern Dynasty Minerals in the fourth quarter worth about $1,233,000. BNP Paribas Financial Markets boosted its stake in shares of Northern Dynasty Minerals by 164.8% in the fourth quarter. BNP Paribas Financial Markets now owns 3,249,608 shares of the mining company's stock worth $1,890,000 after acquiring an additional 2,022,304 shares during the period. Two Sigma Investments LP bought a new position in shares of Northern Dynasty Minerals in the fourth quarter worth about $218,000. Finally, Tidal Investments LLC bought a new position in shares of Northern Dynasty Minerals in the fourth quarter worth about $143,000. Hedge funds and other institutional investors own 10.55% of the company's stock.

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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.