Northern Dynasty Minerals (NYSEAMERICAN:NAK) Trading 8.9% Higher - Should You Buy?

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK - Get Free Report) TSE: NDM were up 8.9% on Tuesday . The company traded as high as $0.95 and last traded at $0.94. Approximately 1,030,522 shares changed hands during trading, a decline of 64% from the average daily volume of 2,848,339 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

NAK has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Northern Dynasty Minerals in a report on Friday, December 27th. They set a "sell" rating on the stock. Canaccord Genuity Group upgraded Northern Dynasty Minerals to a "strong-buy" rating in a research report on Thursday, January 2nd. Finally, HC Wainwright reissued a "buy" rating and issued a $1.30 price target on shares of Northern Dynasty Minerals in a research note on Tuesday, February 4th.

Northern Dynasty Minerals Stock Performance

The stock's 50 day moving average price is $0.79 and its 200 day moving average price is $0.59. The company has a market capitalization of $519.20 million, a P/E ratio of -24.13 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its stake in 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 valued at $1,890,000 after purchasing an additional 2,022,304 shares in the last quarter. Dauntless Investment Group LLC acquired a new stake in shares of Northern Dynasty Minerals in the 4th quarter valued at about $1,233,000. Wells Fargo & Company MN increased its position in Northern Dynasty Minerals by 8.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,018,599 shares of the mining company's stock valued at $592,000 after buying an additional 78,554 shares in the last quarter. Two Sigma Investments LP acquired a new position in Northern Dynasty Minerals during the 4th quarter worth approximately $218,000. Finally, XTX Topco Ltd boosted its holdings in Northern Dynasty Minerals by 197.6% in the fourth quarter. XTX Topco Ltd now owns 305,080 shares of the mining company's stock worth $177,000 after acquiring an additional 202,580 shares in the last quarter. Institutional investors own 10.55% of the company's stock.

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.