Northern Dynasty shares plunge 55% on insider selling
me-metals: Northern Dynasty Minerals (TSX: NDM) (NYSE-A: NAK) saw its biggest single-day share drop since 2020 on Thursday due to insider selling activity.
According to me-metals cited from mining.com, The company’s Toronto-listed shares plunged as much as 55% to C$1.41 before recovering to around C$2.27 in late afternoon. Earlier in the day, trading of the stock was briefly halted as it nosedived. At press time, the company’s market capitalization stood at C$1.2 billion ($870 million).
Its New York-listed shares followed a similar pattern, falling by more than 55% before paring losses.
The company has yet to respond to MINING.com’s request for comment.
The drop comes after various insiders, including VP engineering Stephen Hodgson and chairman Robert Dickinson, sold shares during recent trading sessions.
With Thursday’s move, Northern Dynasty has now erased all gains from July 4, when the company announced it is in talks to settle litigation with the US Environmental Protection Agency, which it said could help the regulatory approval of its flagship Pebble project in Alaska.
The Pebble project is touted as the world’s largest undeveloped copper and gold resource, with significant endowments of molybdenum, silver and rhenium. However, the proposed mine has been a source of contention for years due to its location near Bristol Bay, home to some of the world’s largest sockeye salmon fisheries.
Northern Dynasty’s stock has gradually rallied this year on optimism that the Trump administration might roll back the project’s regulatory hurdles.
source: mining.com
Related News
Eight Hours ago
Eight Hours ago
Top News
Two last month
Three last month
Six last month
Navoi saw first half output value double on higher gold prices
BHP to explore battery partnerships with CATL, BYD
Fatalities rise for second year in global mining sector
Smelter mishap stokes shutdown push at Codelco
CHART: Nvidia hits $4 trillion – how do mining stocks stack up?
Gold price forecast gets 15% upgrade for 2025: LBMA poll
Copper mine output to rise 2.9% annually over next decade, says Fitch’s BMI
Silver price surges to 14-year high amid mounting trade tensions
Taseko more than doubles value of Yellowhead project near Gibraltar
BHP delays Jansen potash project as costs surge; logs record copper output
Northern Dynasty shares plunge 55% on insider selling
Burgundy halts Ekati pit mining, lays off hundreds
US set to impose 93.5% duty on China battery material
Aura Minerals makes US listing debut
Newmont nets $470M from selling Greatland, Discovery Silver stakes
Rinehart urges Rio Tinto to shift main office to Australia
Rio Tinto picks iron ore boss Simon Trott as new CEO
Gold price forecast gets 15% upgrade for 2025: LBMA poll
Apple invests $500M in Pentagon-backed MP Materials
Rinehart urges Rio Tinto to shift main office to Australia
Northern Dynasty shares plunge 55% on insider selling
Burgundy halts Ekati pit mining, lays off hundreds
US set to impose 93.5% duty on China battery material
Newmont nets $470M from selling Greatland, Discovery Silver stakes
Rio Tinto picks iron ore boss Simon Trott as new CEO
Apple invests $500M in Pentagon-backed MP Materials
Namib to spend up to $400M to restart Zimbabwe gold mines
Trump’s 50% copper tariffs jolt US market as buyers slash imports and delay orders