Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $0.78. Northern Dynasty Minerals shares last traded at $0.71, with a volume of 3,353,170 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on NAK shares. Canaccord Genuity Group raised Northern Dynasty Minerals to a "strong-buy" rating in a report on Thursday, January 2nd. StockNews.com initiated coverage on Northern Dynasty Minerals in a research note on Friday, December 27th. They set a "sell" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $1.30 price target on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th.

Northern Dynasty Minerals Trading Down 3.2 %

The firm has a market capitalization of $371.08 million, a P/E ratio of -17.25 and a beta of 0.51.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of institutional investors and hedge funds have recently modified their holdings of NAK. Invenomic Capital Management LP lifted its stake in shares of Northern Dynasty Minerals by 145.4% during the 3rd quarter. Invenomic Capital Management LP now owns 6,997,729 shares of the mining company's stock worth $2,320,000 after acquiring an additional 4,145,767 shares during the last quarter. Dauntless Investment Group LLC purchased a new stake in Northern Dynasty Minerals in the fourth quarter worth $1,233,000. BNP Paribas Financial Markets lifted its position in shares of Northern Dynasty Minerals by 673.8% during the third quarter. BNP Paribas Financial Markets now owns 1,227,304 shares of the mining company's stock worth $407,000 after purchasing an additional 1,068,704 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Northern Dynasty Minerals by 197.6% during the fourth quarter. XTX Topco Ltd now owns 305,080 shares of the mining company's stock valued at $177,000 after purchasing an additional 202,580 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Northern Dynasty Minerals during the third quarter valued at $60,000. Hedge funds and other institutional investors own 10.55% of the company's 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.