Northern Dynasty Minerals (NYSEAMERICAN:NAK) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “

NAK has been the topic of a number of other reports. HC Wainwright reissued a buy rating and issued a $2.00 price objective on shares of Northern Dynasty Minerals in a research note on Thursday, June 18th. reissued a sell rating on shares of Northern Dynasty Minerals in a research note on Tuesday, June 9th. Finally, TD Securities lifted their price objective on shares of Northern Dynasty Minerals from $1.30 to $2.25 and gave the company a hold rating in a research note on Monday.

NYSEAMERICAN NAK opened at $1.45 on Tuesday. Northern Dynasty Minerals has a 1-year low of $0.35 and a 1-year high of $1.53.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last released its quarterly earnings results on Friday, May 15th. The mining company reported ($0.02) earnings per share for the quarter.

Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Northern Dynasty Minerals in the first quarter valued at $30,000. Sei Investments Co. lifted its holdings in Northern Dynasty Minerals by 7.4% in the fourth quarter. Sei Investments Co. now owns 950,808 shares of the mining company’s stock valued at $407,000 after buying an additional 65,526 shares during the period. Renaissance Technologies LLC lifted its holdings in Northern Dynasty Minerals by 277.3% in the fourth quarter. Renaissance Technologies LLC now owns 226,370 shares of the mining company’s stock valued at $97,000 after buying an additional 166,370 shares during the period. Stifel Financial Corp lifted its holdings in Northern Dynasty Minerals by 43.0% in the fourth quarter. Stifel Financial Corp now owns 81,500 shares of the mining company’s stock valued at $33,000 after buying an additional 24,500 shares during the period. Finally, Magnolia Capital Advisors LLC acquired a new position in Northern Dynasty Minerals in the fourth quarter valued at $86,000.

About Northern Dynasty Minerals

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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