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

Northern Dynasty Minerals Ltd. (NYSEAMERICAN:NAK) (TSE:NDM) was the recipient of a significant growth in short interest during 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. Based on an average trading volume of 6,370,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NAK shares. StockNews.com initiated coverage on Northern Dynasty Minerals in a research report on Friday, December 27th. They issued a “sell” rating for the company. Canaccord Genuity Group raised shares of Northern Dynasty Minerals to a “strong-buy” rating in a research report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $1.30 price objective on shares of Northern Dynasty Minerals in a report on Tuesday, February 4th.

Institutional Investors Weigh In On Northern Dynasty Minerals

Institutional investors have recently added to or reduced their stakes in the stock. Allegheny Financial Group acquired a new position in Northern Dynasty Minerals in the fourth quarter valued at about $30,000. RFG Advisory LLC bought a new stake in Northern Dynasty Minerals during the 4th quarter worth approximately $31,000. Squarepoint Ops LLC acquired a new stake in Northern Dynasty Minerals during the 4th quarter valued at $44,000. Game Plan Financial Advisors LLC raised its position in Northern Dynasty Minerals by 29.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 79,000 shares of the mining company’s stock valued at $45,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in Northern Dynasty Minerals in the first quarter worth $100,000. 10.55% of the stock is owned by institutional investors and hedge funds.

Northern Dynasty Minerals Stock Performance

Shares of NAK stock opened at $1.08 on Wednesday. The firm has a fifty day moving average of $0.81 and a 200-day moving average of $0.59. Northern Dynasty Minerals has a 52-week low of $0.27 and a 52-week high of $1.29. The stock has a market cap of $581.07 million, a price-to-earnings ratio of -27.00 and a beta of 0.51.

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.