Northern Dynasty Minerals (NYSEAMERICAN:NAK) Hits New 52-Week High – Time to Buy?

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $0.93 and last traded at $1.00, with a volume of 778620 shares trading hands. The stock had previously closed at $0.89.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NAK. StockNews.com began coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a “sell” rating for the company. HC Wainwright reissued a “buy” rating and issued a $1.30 price target on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a research report on Thursday, January 2nd.

Northern Dynasty Minerals Stock Performance

The firm’s 50-day moving average price is $0.70. The firm has a market capitalization of $640.26 million, a P/E ratio of -29.75 and a beta of 0.51.

Institutional Investors Weigh In On Northern Dynasty Minerals

Several institutional investors have recently made changes to their positions in NAK. Game Plan Financial Advisors LLC lifted its position in Northern Dynasty Minerals by 29.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock worth $45,000 after purchasing an additional 18,000 shares during the period. Smith Anglin Financial LLC boosted its position in shares of Northern Dynasty Minerals by 19.0% during the 4th quarter. Smith Anglin Financial LLC now owns 125,000 shares of the mining company’s stock worth $73,000 after acquiring an additional 20,000 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Northern Dynasty Minerals by 71.8% during the 3rd quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock worth $31,000 after acquiring an additional 39,500 shares in the last quarter. Allegheny Financial Group acquired a new position in Northern Dynasty Minerals during the fourth quarter valued at approximately $30,000. Finally, XTX Topco Ltd raised its position in Northern Dynasty Minerals by 104.4% during the third quarter. XTX Topco Ltd now owns 102,500 shares of the mining company’s stock valued at $34,000 after purchasing an additional 52,346 shares in the last quarter. 10.55% of the stock is currently owned by institutional investors.

Northern Dynasty Minerals Company Profile

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, the United States.