Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) saw a large drop in short interest in December. As of December 29th, there was short interest totalling 29,940,154 shares, a drop of 1.4% from the December 15th total of 30,377,536 shares. Based on an average daily volume of 5,853,701 shares, the short-interest ratio is presently 5.1 days. Currently, 13.5% of the shares of the stock are short sold.
Shares of Northern Dynasty Minerals (NYSEAMERICAN NAK) opened at $1.68 on Friday. Northern Dynasty Minerals has a 1 year low of $1.06 and a 1 year high of $3.45. The company has a market cap of $513.70, a P/E ratio of -10.50 and a beta of 0.46.
A number of research firms have recently weighed in on NAK. Zacks Investment Research upgraded shares of Northern Dynasty Minerals from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Thursday. BMO Capital Markets upgraded shares of Northern Dynasty Minerals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th. BidaskClub upgraded shares of Northern Dynasty Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, HC Wainwright restated a “buy” rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a research note on Monday, January 8th.
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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