H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Northern Dynasty Minerals (NYSE MKT: NAK) today and set a price target of $2.50. The company’s shares closed on Friday at $0.47, close to its 52-week low of $0.44.
Ihle observed:
“We also believe that recent progress on the permitting front and potential for a more timely process under the Trump Administration could increase the attractiveness of the project in the eyes of potential suitors in the future. Recent permitting progress and potential for an expedited process. A third party EIS contractor was selected for the project in February of this year, followed by the release of a scoping package for the EIS process in March and the beginning of the EIS scoping period on April 1, 2018. We highlight that the scoping package included an estimated EIS process timeline for the Pebble Project. The schedule provided by the USACE estimated that a ROD for the project could be completed by early 2020, which we note would be slightly over two years from when the NEPA EIS permitting process for Pebble began.”
According to TipRanks.com, Ihle is a 4-star analyst with an average return of 8.4% and a 48.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Northern Dynasty Minerals has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.
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Based on Northern Dynasty Minerals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.77 million. In comparison, last year the company had a GAAP net loss of $4.09 million.
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Northern Dynasty Minerals Ltd. engages in the exploration and development of gold and copper mineral properties. It holds interest in Pebble Copper-Gold-Molybdenum Project. The company was founded on May 11, 1983 and is headquartered in Vancouver, Canada.
