$NAK..Decrease in short interest and increase in institutional investment=UP WE GO IMO>>>>>>>>>Northern Dynasty Minerals Ltd (NAK) Sees Significant Drop in Short Interest
Posted by ABMN Staff on Mar 9th, 2018 // No Comments
Northern Dynasty Minerals logoNorthern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 27,252,934 shares, a decrease of 5.5% from the February 15th total of 28,837,390 shares. Currently, 14.0% of the shares of the company are sold short. Based on an average daily volume of 1,212,802 shares, the days-to-cover ratio is presently 22.5 days.
Several equities research analysts have commented on NAK shares. HC Wainwright reaffirmed a “buy” rating and set a $2.50 price objective on shares of Northern Dynasty Minerals in a report on Tuesday, December 19th. TD Securities downgraded shares of Northern Dynasty Minerals from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Zacks Investment Research downgraded shares of Northern Dynasty Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, BMO Capital Markets raised shares of Northern Dynasty Minerals from a “market perform” rating to an “outperform” rating in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Northern Dynasty Minerals has an average rating of “Hold” and an average target price of $2.13.
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Several institutional investors have recently made changes to their positions in NAK. Goldman Sachs Group Inc. lifted its holdings in shares of Northern Dynasty Minerals by 4.5% in the second 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 in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings 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 worth $181,000 after buying an additional 115,999 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Northern Dynasty Minerals in the third quarter worth about $414,000. Smith Moore & CO. lifted its holdings in shares of Northern Dynasty Minerals by 340.7% in the third quarter. Smith Moore & CO. now owns 73,085 shares of the mining company’s stock worth $132,000 after buying an additional 56,500 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings 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 worth $6,002,000 after buying an additional 133,056 shares in the last quarter.
Shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) traded up $0.02 during trading on Friday, hitting $0.94. 901,628 shares of the stock were exchanged, compared to its average volume of 3,104,817. Northern Dynasty Minerals has a 52-week low of $0.81 and a 52-week high of $2.42. The stock has a market capitalization of $255.84, a P/E ratio of -6.13 and a beta of -0.15.
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.
