In the latest trading session, Northern Dynasty Minerals (NAK) closed at $1.57, marking a +1.95% move from the previous day. This change outpaced the S&P 500’s 0.06% gain on the day. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Heading into today, shares of the mining company had lost 11.49% over the past month, lagging the Basic Materials sector’s gain of 7.92% and the S&P 500’s gain of 5.48% in that time.
Wall Street will be looking for positivity from NAK as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for NAK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10% higher. NAK is currently sporting a Zacks Rank of #3 (Hold).
The Mining – Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.