Northern Dynasty Minerals (NYSEAMERICAN:NAK) Sees Unusually-High Trading Volume – Here’s Why

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) saw unusually-strong trading volume on Wednesday . Approximately 4,420,676 shares were traded during trading, an increase of 75% from the previous session’s volume of 2,530,425 shares.The stock last traded at $1.19 and had previously closed at $1.19.

Wall Street Analysts Forecast Growth

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

Northern Dynasty Minerals Price Performance

The stock has a market capitalization of $624.11 million, a price-to-earnings ratio of -29.00 and a beta of 0.51. The company’s fifty day moving average price is $0.72.

Hedge Funds Weigh In On Northern Dynasty Minerals

A number of institutional investors have recently modified their holdings of NAK. Squarepoint Ops LLC acquired a new stake in Northern Dynasty Minerals during the 4th quarter worth $44,000. Two Sigma Advisers LP purchased a new stake in shares of Northern Dynasty Minerals in the fourth quarter valued at about $82,000. Two Sigma Investments LP acquired a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth about $218,000. Tidal Investments LLC purchased a new position in shares of Northern Dynasty Minerals during the fourth quarter worth about $143,000. Finally, Bank of America Corp DE grew its holdings in shares of Northern Dynasty Minerals by 1,042.0% during the fourth quarter. Bank of America Corp DE now owns 138,092 shares of the mining company’s stock worth $80,000 after buying an additional 126,000 shares during the last quarter. 10.55% of the stock is 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.