Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Unusually-High Trading Volume – Still a Buy?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) shares saw unusually-strong trading volume on Wednesday . Approximately 5,038,556 shares were traded during mid-day trading, an increase of 70% from the previous session’s volume of 2,958,046 shares.The stock last traded at $1.11 and had previously closed at $1.08.

Analysts Set New Price Targets

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

Northern Dynasty Minerals Stock Performance

The stock’s 50-day moving average price is $0.81 and its 200-day moving average price is $0.59. The company has a market capitalization of $575.69 million, a price-to-earnings ratio of -26.75 and a beta of 0.51.

Institutional Trading of Northern Dynasty Minerals

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position 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 in the last quarter. Dauntless Investment Group LLC bought a new stake in shares of Northern Dynasty Minerals in the 4th quarter worth about $1,233,000. Wells Fargo & Company MN raised its stake in Northern Dynasty Minerals by 8.4% during the fourth 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 bought a new position in Northern Dynasty Minerals during the fourth quarter worth $218,000. Finally, XTX Topco Ltd boosted its holdings in shares of Northern Dynasty Minerals by 197.6% in the 4th quarter. XTX Topco Ltd now owns 305,080 shares of the mining company’s stock valued at $177,000 after buying an additional 202,580 shares during the period. 10.55% of the stock is currently owned by institutional investors and hedge funds.

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.