Northern Dynasty Minerals (NYSEAMERICAN:NAK) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Northern Dynasty owns the rights to purchase 100% of the Pebble gold-copper-molybdenum porphyry deposit, where successful drilling programs have delineated an Inferred Mineral Resource. Northern Dynasty is the largest gold deposit and one of the largest copper deposits in North America. “

Several other analysts also recently commented on NAK. HC Wainwright reaffirmed a buy rating and set a $2.00 price objective on shares of Northern Dynasty Minerals in a research report on Thursday, June 18th. TD Securities increased their target price on Northern Dynasty Minerals from $1.30 to $2.25 and gave the stock a hold rating in a report on Monday, June 29th. Finally, reiterated a sell rating on shares of Northern Dynasty Minerals in a report on Tuesday, June 9th.

Shares of NAK stock opened at $1.74 on Tuesday. Northern Dynasty Minerals has a 1-year low of $0.35 and a 1-year high of $1.91.

Northern Dynasty Minerals (NYSEAMERICAN:NAK) (TSE:NDM) last released its earnings results on Friday, May 15th. The mining company reported ($0.02) earnings per share for the quarter.

Several hedge funds have recently made changes to their positions in NAK. Mackenzie Financial Corp lifted its stake in shares of Northern Dynasty Minerals by 2.2% in the 1st quarter. Mackenzie Financial Corp now owns 958,673 shares of the mining company’s stock valued at $365,000 after purchasing an additional 20,300 shares in the last quarter. Creative Planning increased its holdings in Northern Dynasty Minerals by 320.9% in the 1st quarter. Creative Planning now owns 1,066,889 shares of the mining company’s stock worth $411,000 after purchasing an additional 813,414 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Northern Dynasty Minerals by 4.0% in the 1st quarter. Russell Investments Group Ltd. now owns 8,658,809 shares of the mining company’s stock worth $3,327,000 after purchasing an additional 335,176 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Northern Dynasty Minerals by 277.3% in the fourth quarter. Renaissance Technologies LLC now owns 226,370 shares of the mining company’s stock valued at $97,000 after buying an additional 166,370 shares during the period. Finally, M Holdings Securities Inc. raised its position in shares of Northern Dynasty Minerals by 8.8% during the first quarter. M Holdings Securities Inc. now owns 553,800 shares of the mining company’s stock worth $213,000 after acquiring an additional 45,000 shares during the last quarter.

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: How are capital gains distributions different for tax-deferred account?

Get a free copy of the Zacks research report on Northern Dynasty Minerals (NAK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.