Northern Dynasty Minerals Ltd (NAK) Sees Large Decline in Short Interest

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.

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in Northern Dynasty Minerals by 4.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,345,111 shares of the mining company’s stock worth $6,002,000 after buying an additional 133,056 shares during the period. Goldman Sachs Group Inc. boosted its position in Northern Dynasty Minerals by 4.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 512,942 shares of the mining company’s stock worth $713,000 after buying an additional 22,111 shares during the period. Gabelli Funds LLC acquired a new stake in Northern Dynasty Minerals during the 3rd quarter worth approximately $414,000. Raymond James Financial Services Advisors Inc. boosted its position in Northern Dynasty Minerals by 37.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 178,132 shares of the mining company’s stock worth $321,000 after buying an additional 48,100 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Northern Dynasty Minerals during the 3rd quarter worth approximately $284,000.

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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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