Northern Dynasty Minerals Ltd (NYSEMKT: NAK)
Northern Dynasty Minerals is having an incredibly strong day in the market today. After starting the day off well into the green, the stock continued on a relatively strong upward trend through most of the morning. While we have seen some slight downward movement more recently, chances are that the stock will close well into the green. Below, we'll talk about what we're seeing from NAK, why, and what we'll be watching for ahead.
What We're Seeing From NAK
As mentioned above, Northern Dynasty Minerals is having an incredibly strong trading session in the market today. At the opening bell, the stock was already trading slightly in the green. Since then, we've seen more gains bringing it to highs and slight declines since. At the moment (11:18), NAK is trading at $1.74 per share after a gain of $0.34 per share (24.29%) thus far today.
Why The Stock Is Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on NAK. When we received the alert, the CNA Finance team started digging to see why the stock was making a run for the top. It didn't take long to dig up the story. The gains are ultimately the result of news surrounding the Pebble Project.
In the announcement, investors learned that the US House Committee on Science, Space, and Technology has called on the new Administrator of the US EPA to rescind the federal agency's 2014 regulatory action of the Clean Water Act. If the move is rescinded, the Alaskan Pebble Project will be a major beneficiary.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NAK. In particular, we'll be watching for further news surrounding the Pebble Project and how the developments will affect the stock moving forward. We'll be watching the news closely and bringing it to you as it breaks!
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