Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 27,252,934 shares, a drop of 5.5% from the February 15th total of 28,837,390 shares. Based on an average daily volume of 1,212,802 shares, the short-interest ratio is currently 22.5 days. Approximately 14.0% of the shares of the stock are sold short.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M Holdings Securities Inc. purchased a new stake in Northern Dynasty Minerals during the fourth quarter valued at about $314,000. Vertex One Asset Management Inc. increased its holdings in shares of Northern Dynasty Minerals by 3.6% in the fourth quarter. Vertex One Asset Management Inc. now owns 5,684,600 shares of the mining company’s stock worth $10,076,000 after buying an additional 200,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Northern Dynasty Minerals by 11.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 571,644 shares of the mining company’s stock worth $1,012,000 after buying an additional 58,685 shares during the period. Kopernik Global Investors LLC increased its holdings in shares of Northern Dynasty Minerals by 3.9% in the fourth quarter. Kopernik Global Investors LLC now owns 3,088,909 shares of the mining company’s stock worth $5,467,000 after buying an additional 114,623 shares during the period. Finally, Swiss National Bank purchased a new position in shares of Northern Dynasty Minerals in the fourth quarter worth about $831,000.
NAK stock traded down $0.03 on Friday, hitting $0.88. The stock had a trading volume of 1,300,399 shares, compared to its average volume of 2,880,033. Northern Dynasty Minerals has a 1 year low of $0.81 and a 1 year high of $2.42. The stock has a market capitalization of $278.79, a P/E ratio of -5.87 and a beta of -0.15.
A number of equities research analysts have weighed in on 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. HC Wainwright restated a “buy” rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Tuesday, December 19th. Zacks Investment Research upgraded Northern Dynasty Minerals from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Thursday, January 18th. Finally, TD Securities downgraded Northern Dynasty Minerals from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $2.13.
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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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