Northern Dynasty Minerals (NYSEAMERICAN:NAK) Shares Gap Down - Here's Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares gapped down prior to trading on Thursday . The stock had previously closed at $1.10, but opened at $1.06. Northern Dynasty Minerals shares last traded at $1.13, with a volume of 2,058,808 shares.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Trading Down 1.3 %

The firm has a 50-day moving average of $0.73. The stock has a market cap of $594.52 million, a P/E ratio of -28.38 and a beta of 0.51.

Institutional Trading of Northern Dynasty Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in NAK. Squarepoint Ops LLC acquired a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth about $44,000. Two Sigma Advisers LP acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter valued at about $82,000. Two Sigma Investments LP bought a new stake in Northern Dynasty Minerals during the fourth quarter worth about $218,000. Tidal Investments LLC bought a new position in Northern Dynasty Minerals in the fourth quarter valued at approximately $143,000. Finally, Bank of America Corp DE increased its position in shares of Northern Dynasty Minerals by 1,042.0% during the 4th quarter. Bank of America Corp DE now owns 138,092 shares of the mining company's stock worth $80,000 after purchasing an additional 126,000 shares during the last quarter. 10.55% of the stock is owned by institutional investors.

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.