Shares of Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) were down 5.5% during trading on Wednesday . The stock traded as low as $0.69 and last traded at $0.69, approximately 2,007,034 shares were traded during mid-day trading. An increase of 12% from the average daily volume of 1,793,547 shares. The stock had previously closed at $0.73.
Several equities analysts have recently commented on NAK shares. Zacks Investment Research raised shares of Northern Dynasty Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, July 10th. HC Wainwright boosted their target price on shares of Northern Dynasty Minerals from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Monday.
Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Northern Dynasty Minerals during the first quarter valued at $30,000. Nordea Investment Management AB purchased a new stake in Northern Dynasty Minerals during the first quarter valued at $47,000. Advisor Group Inc. raised its stake in Northern Dynasty Minerals by 45.8% during the second quarter. Advisor Group Inc. now owns 89,120 shares of the mining company’s stock valued at $53,000 after purchasing an additional 28,000 shares in the last quarter. CVI Holdings LLC purchased a new stake in Northern Dynasty Minerals during the second quarter valued at $78,000. Finally, Cadinha & Co. LLC purchased a new stake in Northern Dynasty Minerals during the first quarter valued at $90,000.
Northern Dynasty Minerals Ltd. acquires, explores for, and develops mineral properties in the United States. Its principal mineral property is the Pebble copper-gold-molybdenum project that includes 2,402 mineral claims covering approximately 417 square miles located in southwest Alaska. The company was formerly known as Northern Dynasty Explorations Ltd.
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