Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) saw a large decline in short interest in the month of September. As of September 14th, there was short interest totalling 22,280,398 shares, a decline of 2.0% from the August 31st total of 22,723,715 shares. Based on an average trading volume of 504,971 shares, the days-to-cover ratio is currently 44.1 days.
An institutional investor recently raised its position in Northern Dynasty Minerals stock. M Holdings Securities Inc. lifted its stake in shares of Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) by 104.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,000 shares of the mining company’s stock after purchasing an additional 125,000 shares during the period. M Holdings Securities Inc. owned approximately 0.08% of Northern Dynasty Minerals worth $133,000 at the end of the most recent quarter.
NAK opened at $0.55 on Wednesday. Northern Dynasty Minerals has a one year low of $0.43 and a one year high of $2.34.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Northern Dynasty Minerals from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research report on Tuesday, August 21st. HC Wainwright set a $3.00 price target on Northern Dynasty Minerals and gave the stock a “buy” rating in a research report on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Northern Dynasty Minerals currently has an average rating of “Hold” and an average target price of $1.75.
Northern Dynasty Minerals Company Profile
Northern Dynasty Minerals Ltd. acquires, explores for, and develops mineral properties in the United States. Its principal mineral property is the Pebble copper-gold-molybdenum project that includes 2,402 mineral claims covering approximately 417 square miles located in southwest Alaska. The company was formerly known as Northern Dynasty Explorations Ltd.
Further Reading: Asset Allocation, Balancing Your Investments
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