Northern Dynasty Minerals Ltd (NYSEMKT:NAK) Coverage Initiated at HC Wainwright

HC Wainwright assumed coverage on shares of Northern Dynasty Minerals Ltd (NYSEMKT:NAK) (TSE:NDM) in a research report report published on Thursday, October 19th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $2.50 price target on the mining company’s stock.

Several other analysts have also issued reports on NAK. BidaskClub raised Northern Dynasty Minerals from a strong sell rating to a sell rating in a report on Friday, August 25th. BMO Capital Markets assumed coverage on Northern Dynasty Minerals in a research note on Monday, August 28th. They issued a market perform rating for the company.

Shares of Northern Dynasty Minerals (NAK) opened at 1.99 on Thursday. The firm’s market cap is $604.84 million. The stock’s 50 day moving average price is $1.89 and its 200-day moving average price is $1.65. Northern Dynasty Minerals has a 12-month low of $0.70 and a 12-month high of $3.45.

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A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in Northern Dynasty Minerals by 4.5% during the second quarter. Goldman Sachs Group Inc. now owns 512,942 shares of the mining company’s stock valued at $713,000 after buying an additional 22,111 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Northern Dynasty Minerals by 37.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 178,132 shares of the mining company’s stock valued at $321,000 after purchasing an additional 48,100 shares during the period. Finally, Midas Management Corp purchased a new stake in Northern Dynasty Minerals during the third quarter valued at approximately $108,000.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. is a mineral exploration company. The Company, through its subsidiaries, holds interest in mining claims on State of Alaska land in southwest Alaska, the United States, which are part of the Pebble Copper-Gold-Molybdenum Project (the Pebble Project). The Pebble Project is located in southwest Alaska, approximately 20 miles from the villages of Iliamna and Newhalen, and over 200 miles (approximately 320 kilometers) southwest of the city of Anchorage.

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