Short Interest in Northern Dynasty Minerals Ltd (NAK) Decreases By 1.4%

Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 22,723,715 shares, a decline of 1.4% from the August 15th total of 23,051,618 shares. Based on an average daily volume of 672,273 shares, the days-to-cover ratio is presently 33.8 days.

An institutional investor recently raised its position in Northern Dynasty Minerals stock. M Holdings Securities Inc. raised its holdings in shares of Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) by 104.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.08% of Northern Dynasty Minerals worth $133,000 at the end of the most recent reporting period.

Northern Dynasty Minerals stock remained flat at $$0.55 during midday trading on Friday. The company had a trading volume of 2,209,041 shares, compared to its average volume of 1,521,066. Northern Dynasty Minerals has a twelve month low of $0.43 and a twelve month high of $2.34.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last posted its quarterly earnings data on Thursday, August 9th. The mining company reported ($0.07) earnings per share (EPS) for the quarter.

Several research firms recently commented on NAK. Zacks Investment Research upgraded Northern Dynasty Minerals from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research report on Tuesday, August 21st. HC Wainwright set a $3.00 target price on Northern Dynasty Minerals and gave the stock a “buy” rating in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.75.

About Northern Dynasty Minerals

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.

See Also: Does the discount rate affect the economy?

Receive News & Ratings for Northern Dynasty Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Dynasty Minerals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply