Northern Dynasty Minerals Ltd. (AMEX: NAK): Surging Strong 26.27% In 2024, Outlook Strong

The trading price of Northern Dynasty Minerals Ltd. (AMEX:NAK) floating lower at last check on Tuesday, April 02, closing at $0.31, -2.18% lower than its previous close.

In examining the 52-week price action we see that the stock hit a 52-week high of $0.43 and a 52-week low of $0.21. Over the past month, the stock has gained 26.68% in value.

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Northern Dynasty Minerals Ltd., whose market valuation is $163.80 million at the time of this writing, is expected to release its quarterly earnings report Apr 02, 2024 – Apr 07, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0 per share this quarter, however they have predicted annual earnings per share of -$0.03 for 2023 and $0 for 2024. It means analysts are expecting annual earnings per share growth of 25.00%.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Northern Dynasty Minerals Ltd. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NAK has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that NAK’s price is currently 2.43% off the SMA20 and 14.67% off the SMA50. The RSI metric on the 14-day chart is currently showing 55.56, and weekly volatility stands at 4.01%. When measured over the past 30 days, the indicator reaches 8.00%. Northern Dynasty Minerals Ltd. (AMEX:NAK)’s beta value is currently sitting at 0.78, while the Average True Range indicator is currently displaying 0.02.

To see how Northern Dynasty Minerals Ltd. stock has been performing today in comparison to its peers in the industry, here are the numbers: NAK stock’s performance was -2.18% at last check in today’s session, and 26.27% in the past year.

An evaluation of the daily trading volume of Northern Dynasty Minerals Ltd. (AMEX:NAK) indicates that the 3-month average is 2.11 million. However, this figure has increased over the past 10 days to an average of 1.47 million.

Currently, records show that 529.92 million of the company’s shares remain outstanding. The insiders hold 2.14% of outstanding shares, whereas institutions hold 10.14%. The stats also highlight that short interest as of Mar 15, 2024, stood at 6.68 million shares, resulting in a short ratio of 3.85 at that time. From this, we can conclude that short interest is 1.24% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 6.75 million. However, since the stock’s price has seen -4.39% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.