Is Northern Dynasty Minerals (NAK) stock Setting Up For a Quick Bounce in May?

Northern Dynasty Minerals (NYSEAMERICAN:NAK) stock is among the popular plays in the market currently, and although the stock is risky, it could appeal to those willing to hand volatility.

The junior copper and gold miner has seen its stock rise 72% year to date, but the shares saw significant volatility, recently reaching a closing peak of $1 this year. In July 2020, Northern Dynasty stock reached $1.94, which was a multi-year high. As a result, the stock has shown the massive potential of rising from the current share price of $0.56.

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Also, the stock enjoys excellent fundamental support. Reuters reported recently that the increase in consumer goods sales such as cars, washing machines, and freezers would invigorate copper consumption leading to shortages. Therefore this is good news for Northern Dynasty because the demand for copper will be high. Interestingly, copper has been among the top-performing commodities over the past year.

With growing copper demand, Northern Dynasty is interested in developing its Pebble Project in Alaska, which has massive copper deposits. In the coming months, Northern Dynasty stock is worth watching.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.