Zacks Investment Research upgraded shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a buy rating in a research report sent to investors on Thursday, January 11th. Zacks Investment Research currently has $2.00 price target on the mining company’s stock.
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. “
Other analysts also recently issued research reports about the company. BMO Capital Markets upgraded Northern Dynasty Minerals from a market perform rating to an outperform rating in a research report on Tuesday, December 19th. BidaskClub upgraded Northern Dynasty Minerals from a sell rating to a hold rating in a research report on Thursday, September 21st. Finally, HC Wainwright restated a buy rating and issued a $2.50 target price on shares of Northern Dynasty Minerals in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Northern Dynasty Minerals currently has an average rating of Hold and an average price target of $2.13.
Northern Dynasty Minerals (NYSEAMERICAN:NAK) traded up $0.05 during midday trading on Thursday, hitting $0.91. The stock had a trading volume of 1,549,568 shares, compared to its average volume of 3,920,635. The company has a market cap of $263.73, a PE ratio of -5.63 and a beta of -0.09. Northern Dynasty Minerals has a 12 month low of $0.81 and a 12 month high of $3.41.
Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last announced its quarterly earnings data on Tuesday, November 14th. The mining company reported ($0.05) earnings per share for the quarter.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC bought a new position in Northern Dynasty Minerals in the third quarter valued at about $414,000. Russell Investments Group Ltd. raised its holdings in Northern Dynasty Minerals by 4.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,345,111 shares of the mining company’s stock worth $6,002,000 after purchasing an additional 133,056 shares during the period. Midas Management Corp raised its holdings in Northern Dynasty Minerals by 375.0% in the 4th quarter. Midas Management Corp now owns 285,000 shares of the mining company’s stock worth $504,000 after purchasing an additional 225,000 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Northern Dynasty Minerals by 826.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock worth $181,000 after purchasing an additional 115,999 shares during the period. Finally, LMR Partners LLP acquired a new position in Northern Dynasty Minerals in the 3rd quarter worth about $157,000.
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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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