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

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.11, but opened at $1.07. Northern Dynasty Minerals shares last traded at $1.03, with a volume of 850,819 shares.

Analysts Set New Price Targets

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

Northern Dynasty Minerals Stock Performance

The stock has a market capitalization of $460.55 million, a price-to-earnings ratio of -21.53 and a beta of 0.51. The firm's 50-day moving average is $0.76.

Institutional Trading of Northern Dynasty Minerals

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth about $44,000. Two Sigma Advisers LP acquired a new position in Northern Dynasty Minerals during the fourth quarter valued at approximately $82,000. Two Sigma Investments LP purchased a new stake in Northern Dynasty Minerals during the fourth quarter worth approximately $218,000. Tidal Investments LLC acquired a new stake in shares of Northern Dynasty Minerals in the fourth quarter worth $143,000. Finally, Bank of America Corp DE raised its stake in shares of Northern Dynasty Minerals by 1,042.0% in the 4th quarter. Bank of America Corp DE now owns 138,092 shares of the mining company's stock valued at $80,000 after acquiring an additional 126,000 shares during the period. 10.55% of the stock is owned by hedge funds and other institutional investors.

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.