Northern Dynasty Minerals (NYSEAMERICAN:NAK) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $0.72. Northern Dynasty Minerals shares last traded at $0.71, with a volume of 1,760,838 shares.

Analyst Upgrades and Downgrades

NAK has been the topic of several research reports. StockNews.com initiated coverage on shares of Northern Dynasty Minerals in a research note on Friday, December 27th. They set a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and set a $1.30 price target on shares of Northern Dynasty Minerals in a research note on Tuesday, February 4th. Finally, Canaccord Genuity Group raised shares of Northern Dynasty Minerals to a “strong-buy” rating in a research note on Thursday, January 2nd.

Northern Dynasty Minerals Price Performance

The company has a 50 day simple moving average of $0.67. The stock has a market capitalization of $379.53 million, a P/E ratio of -17.64 and a beta of 0.51.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NAK. Allegheny Financial Group purchased a new position in shares of Northern Dynasty Minerals in the fourth quarter worth $30,000. Stifel Financial Corp increased its position in Northern Dynasty Minerals by 71.8% during the 3rd quarter. Stifel Financial Corp now owns 94,500 shares of the mining company’s stock valued at $31,000 after purchasing an additional 39,500 shares during the period. RFG Advisory LLC purchased a new position in Northern Dynasty Minerals during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new position in Northern Dynasty Minerals during the 3rd quarter valued at $33,000. Finally, XTX Topco Ltd increased its position in Northern Dynasty Minerals by 104.4% during the 3rd 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 during the period. 10.55% of the stock is owned by hedge funds and other institutional investors.

About Northern Dynasty Minerals

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.