Short Interest in Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) Grows By 129.0%

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 14,380,000 shares, a growth of 129.0% from the March 15th total of 6,280,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,370,000 shares, the days-to-cover ratio is presently 2.3 days.

Northern Dynasty Minerals Price Performance

NAK stock opened at $1.11 on Friday. Northern Dynasty Minerals has a 12 month low of $0.27 and a 12 month high of $1.29. The firm has a market capitalization of $597.21 million, a PE ratio of -27.75 and a beta of 0.51. The company’s 50 day simple moving average is $0.83 and its 200-day simple moving average is $0.60.

Institutional Investors Weigh In On Northern Dynasty Minerals

A number of large investors have recently bought and sold shares of the stock. Miracle Mile Advisors LLC purchased a new stake in shares of Northern Dynasty Minerals in the first quarter valued at $100,000. Aletheian Wealth Advisors LLC purchased a new position in Northern Dynasty Minerals in the 1st quarter valued at about $102,000. Squarepoint Ops LLC acquired a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth about $44,000. Two Sigma Advisers LP acquired a new stake in shares of Northern Dynasty Minerals during the 4th quarter worth about $82,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Northern Dynasty Minerals during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 10.55% of the company’s stock.

Analysts Set New Price Targets

NAK has been the subject of several research analyst reports. Canaccord Genuity Group raised Northern Dynasty Minerals to a “strong-buy” rating in a research note on Thursday, January 2nd. StockNews.com initiated coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a “sell” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $1.30 price objective on shares of Northern Dynasty Minerals in a research report on Tuesday, February 4th.

About Northern Dynasty Minerals

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. It holds a 100% interest in 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, the United States.