Zacks Investment Research upgraded shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a buy rating in a report issued on Thursday. The firm 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. “
A number of other equities analysts also recently issued reports on the company. BidaskClub upgraded Northern Dynasty Minerals from a sell rating to a hold rating in a research report on Thursday, September 21st. BMO Capital Markets upgraded Northern Dynasty Minerals from a market perform rating to an outperform rating in a research report on Tuesday, December 19th. Finally, HC Wainwright reiterated a buy rating and set a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Tuesday, December 19th.
Hedge funds have recently modified their holdings of the business. Gabelli Funds LLC purchased a new position in Northern Dynasty Minerals during the third quarter worth approximately $414,000. Russell Investments Group Ltd. lifted its position in shares of Northern Dynasty Minerals by 4.1% in the third quarter. Russell Investments Group Ltd. now owns 3,345,111 shares of the mining company’s stock valued at $6,002,000 after acquiring an additional 133,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Northern Dynasty Minerals by 826.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 130,032 shares of the mining company’s stock valued at $181,000 after acquiring an additional 115,999 shares in the last quarter. Midas Management Corp purchased a new position in shares of Northern Dynasty Minerals in the third quarter valued at approximately $108,000. Finally, LMR Partners LLP purchased a new position in shares of Northern Dynasty Minerals in the third quarter valued at approximately $157,000.
Northern Dynasty Minerals Company Profile
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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