Northern Dynasty Minerals Ltd (NYSEAMERICAN:NAK) (TSE:NDM) saw a large drop in short interest during the month of March. As of March 29th, there was short interest totalling 25,994,205 shares, a drop of 1.5% from the March 15th total of 26,394,364 shares. Based on an average daily volume of 1,030,179 shares, the short-interest ratio is currently 25.2 days. Approximately 11.7% of the shares of the company are short sold.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Northern Dynasty Minerals by 11.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 571,644 shares of the mining company’s stock worth $1,012,000 after purchasing an additional 58,685 shares during the last quarter. M Holdings Securities Inc. bought a new position in shares of Northern Dynasty Minerals during the 4th quarter worth about $314,000. Kopernik Global Investors LLC lifted its holdings in shares of Northern Dynasty Minerals by 3.9% during the 4th quarter. Kopernik Global Investors LLC now owns 3,088,909 shares of the mining company’s stock worth $5,467,000 after acquiring an additional 114,623 shares during the period. Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Northern Dynasty Minerals during the 3rd quarter worth about $284,000. Finally, Vertex One Asset Management Inc. lifted its holdings in shares of Northern Dynasty Minerals by 3.6% during the 4th quarter. Vertex One Asset Management Inc. now owns 5,684,600 shares of the mining company’s stock worth $10,076,000 after acquiring an additional 200,000 shares during the period.
Several research firms have issued reports on NAK. Zacks Investment Research lowered shares of Northern Dynasty Minerals from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. BMO Capital Markets upgraded shares of Northern Dynasty Minerals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 19th. HC Wainwright restated a “buy” rating and issued a $2.50 price target on shares of Northern Dynasty Minerals in a research report on Monday, January 8th. Finally, TD Securities lowered shares of Northern Dynasty Minerals from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.38.
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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.
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