Northern Dynasty Minerals Ltd. (AMEX: NAK) Seen Running Too Hot, Let’s Look At This More Closely

Renaissance Technologies LLC recently announced the acquisition of new stake in Northern Dynasty Minerals Ltd. (AMEX:NAK). The institutional investor has increased its shareholding in the Basic Materials company by 355.85% to 1.3 million shares with purchase of 1.02 million shares. This fresh investment now brings its stake to 0.25% valued currently at $0.35 million. In addition, HRT Financial LLC raised its holdings by 0.94 million to 0.94 million shares. And Wells Fargo Clearing Services LLC has lifted its position by 121.83% or 0.2 million shares – to 0.36 million shares.

With over 6.19 million Northern Dynasty Minerals Ltd. (NAK) shares trading Monday and a closing price of $0.40 on the day, the dollar volume was approximately $2.48 million. The shares have shown a positive half year performance of 86.05% and its price on 09/18/23 gained nearly 4.38%. Currently, there are 529.78M common shares owned by the public and among those 519.95M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NAK have a consensus price objective of $0.90. The analysts have set the share’s price value over the next 12 months at a high of $0.90 and a low of $0.90. But an upside of 55.56% will see the stock hit the forecast high price target while median target price for the stock is $0.90.

The top 3 mutual fund holders in Northern Dynasty Minerals Ltd. are Kopernik Global All Cap Fund, Heptagon Fund ICAV – Kopernik Glo, and Kopernik Global Collective Invest. Kopernik Global All Cap Fund owns 18.27 million shares of the company’s stock, all valued at over $4.92 million. Kopernik Global Collective Invest now owns shares totaling to 0.40% of the shares outstanding.

Shares of Northern Dynasty Minerals Ltd. (AMEX: NAK) opened at $0.39, up $0.01 from a prior closing price of $0.38. However, the script later moved the day high at 0.4300, up 4.38%. The company’s stock has a 5-day price change of 23.46% and 73.91% over the past three months. NAK shares are trading 81.16% year to date (YTD), with the 12-month market performance up to 48.04% higher. It has a 12-month low price of $0.20 and touched a high of $0.38 over the same period. NAK has an average intraday trading volume of 1.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 39.34%, 46.47%, and 66.35% respectively.

Institutional ownership of Northern Dynasty Minerals Ltd. (AMEX: NAK) shares accounts for 17.90% of the company’s 529.78M shares outstanding. Mutual fund holders own 3.07%, while other institutional holders and individual stakeholders account for 6.40% and — respectively.

It has a market capitalization of $184.34M and a beta (3y monthly) value of 1.10. The earnings-per-share (ttm) stands at -$0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 14.39% over the week and 7.68% over the month.

Analysts forecast that Northern Dynasty Minerals Ltd. (NAK) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Northern Dynasty Minerals Ltd. (NAK) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the NAK, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on October 19, 2017, with the firm’s price target at $2.50.