Investors Buy Large Volume of Call Options on Northern Dynasty Minerals (NASDAQ:NAK)

Northern Dynasty Minerals Ltd (NASDAQ:NAK) saw some unusual options trading on Wednesday. Stock investors acquired 25,551 call options on the company. This represents an increase of approximately 40% compared to the typical volume of 18,209 call options.

Northern Dynasty Minerals Stock Performance

Shares of NAK stock opened at $1.32 on Friday. The business’s fifty day moving average price is $2.09. The firm has a market capitalization of $739.04 million, a PE ratio of -11.00 and a beta of 0.08. Northern Dynasty Minerals has a 1 year low of $0.55 and a 1 year high of $2.98.

Institutional Trading of Northern Dynasty Minerals

Several institutional investors and hedge funds have recently modified their holdings of the business. PFG Investments LLC raised its position in shares of Northern Dynasty Minerals by 91.6% during the 3rd quarter. PFG Investments LLC now owns 21,081 shares of the company’s stock worth $25,000 after purchasing an additional 10,081 shares during the last quarter. Investment Planning Advisors Inc. purchased a new stake in Northern Dynasty Minerals during the 4th quarter worth about $26,000. Brookstone Capital Management acquired a new position in Northern Dynasty Minerals in the 4th quarter valued at about $26,000. Merit Financial Group LLC purchased a new position in Northern Dynasty Minerals in the 4th quarter valued at about $26,000. Finally, Advance Capital Management Inc. purchased a new stake in shares of Northern Dynasty Minerals during the third quarter worth about $27,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of Northern Dynasty Minerals in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $2.50.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of approximately 274 square miles located in southwest Alaska, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd.