Northern Dynasty Minerals (TSE:NDM)
TSX:NDM
Want to see TSE:NDM full AI Analyst Report?
Top Page
Northern Dynasty Minerals
(TSX:NDM)
Select Model
Select Model
Rating:53Neutral
Price Target:
C$3.00
▲(3.45% Upside)
Action:Reiterated
Date:05/16/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, persistent cash burn, and higher TTM leverage with a reduced equity cushion). Offsetting this, technical indicators are relatively positive with price above key moving averages and a positive MACD, while valuation appears moderate based on the provided P/E but lacks dividend support.
Positive Factors
Strategic flagship asset
The Pebble Project is the company's primary, large-scale copper-gold-molybdenum development focus. As a flagship resource, it provides a clear long-term strategic asset that can underpin value if permitted and financed, attracting partners and enabling project-level monetization options.
Negative Factors
No operating revenue
The company reports zero revenue across reporting periods, reflecting a pre-revenue mining developer profile. Lack of operating cash inflows means long-term value depends entirely on permitting, partner deals, or financing, increasing execution risk and delaying any path to self-sustaining cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic flagship asset
The Pebble Project is the company's primary, large-scale copper-gold-molybdenum development focus. As a flagship resource, it provides a clear long-term strategic asset that can underpin value if permitted and financed, attracting partners and enabling project-level monetization options.
Read all positive factors
Northern Dynasty Minerals (NDM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.84B
Dividend YieldN/A
Average Volume (3M)2.04M
Price to Earnings (P/E)―
Beta (1Y)2.02
Revenue GrowthN/A
EPS Growth40.74%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.08
Shares Outstanding559,989,140
10 Day Avg. Volume4,180,930
30 Day Avg. Volume2,040,678
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)83.07
Price to Sales (P/S)0.00
P/FCF Ratio-63.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.46Price Target Upside19.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.04
Revenue Forecast (FY)C$563.75K
Northern Dynasty Minerals Business Overview & Revenue Model
Company Description
Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project comprising 1,840 mineral claims that covers an area of...
How the Company Makes Money
Northern Dynasty does not have an operating mine and therefore does not generate recurring revenue from the sale of copper, gold, or other metals. Its ability to fund operations is primarily tied to capital markets and corporate transactions rathe...
Northern Dynasty Minerals Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
34
Negative
Cash Flow
12
Very Negative
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -108.00K | -162.00K | -164.00K | -104.00K | -192.00K |
| EBITDA | -102.92M | -35.10M | -22.18M | -24.07M | -30.90M |
| Net Income | -104.37M | -36.15M | -21.00M | -24.44M | -31.54M |
Balance Sheet | |||||
| Total Assets | 120.98M | 137.16M | 143.85M | 145.22M | 159.28M |
| Cash, Cash Equivalents and Short-Term Investments | 54.73M | 16.14M | 18.20M | 14.17M | 22.29M |
| Total Debt | 3.18M | 3.47M | 2.66M | 613.00K | 687.00K |
| Total Liabilities | 103.26M | 39.96M | 20.56M | 2.53M | 3.79M |
| Stockholders Equity | 17.73M | 97.20M | 123.28M | 142.69M | 155.49M |
Cash Flow | |||||
| Free Cash Flow | -23.21M | -17.14M | -22.11M | -23.99M | -32.48M |
| Operating Cash Flow | -23.21M | -17.14M | -22.11M | -23.96M | -32.48M |
| Investing Cash Flow | 50.54M | 14.59M | 2.95M | 15.67M | 164.00K |
| Financing Cash Flow | 11.96M | -123.00K | 23.31M | -129.00K | 12.19M |
Northern Dynasty Minerals Technical Analysis
Positive
2.90
Price Trends
2.59
Positive
2.52
Positive
2.37
Positive
Market Momentum
0.13
Negative
61.59
Neutral
88.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NDM, the sentiment is Positive. The current price of 2.9 is below the 20-day moving average (MA) of 2.93, above the 50-day MA of 2.59, and above the 200-day MA of 2.37, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 61.59 is Neutral, neither overbought nor oversold. The STOCH value of 88.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NDM.
Northern Dynasty Minerals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$3.35B | 9.97 | 32.43% | 0.94% | 29.24% | 188.40% | |
73 Outperform | C$1.91B | 9.15 | 39.07% | 9.17% | 36.51% | 80.51% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | C$1.84B | -46.52 | -98.76% | ― | ― | 40.74% | |
52 Neutral | C$2.89B | -35.56 | -41.36% | ― | 58.08% | 35.45% | |
50 Neutral | C$931.85M | -173.69 | -2.34% | ― | ― | 20.78% | |
43 Neutral | C$1.16B | -17.99 | -36.23% | ― | ― | -415.48% |
* Basic Materials Sector Average
TSE:NDM
Northern Dynasty Minerals
3.29
1.57
91.28%
TSE:TMQ
Trilogy Metals
6.61
4.85
275.57%
TSE:WRN
Western Copper
4.13
2.48
150.30%
TSE:AFM
Alphamin Resources
1.49
0.75
100.27%
TSE:ALS
Altius Minerals
59.91
33.15
123.90%
TSE:USA
Americas Gold and Silver
8.86
6.23
237.52%
Northern Dynasty Minerals Corporate Events
Business Operations and StrategyLegal Proceedings
Northern Dynasty Challenges EPA Pebble Mine Veto in Alaska Court
Negative
Apr 15, 2026
Northern Dynasty Minerals and its Pebble Limited Partnership subsidiary have filed a response brief in Alaska federal court challenging a U.S. Environmental Protection Agency veto of the Pebble Project, arguing the decision is illegal. The company...
Financial DisclosuresRegulatory Filings and Compliance
Northern Dynasty files 2025 annual reports with going concern emphasis
Negative
Apr 2, 2026
Northern Dynasty Minerals has filed its audited financial statements, management discussion and analysis, annual information form and Form 40-F annual report for the year ended Dec. 31, 2025. The company confirmed that, as in prior years, the audi...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Northern Dynasty Flags Going-Concern Risk in 2025 Annual Filings
Negative
Apr 1, 2026
Northern Dynasty Minerals has filed its audited financial statements, management discussion and analysis, annual information form and Form 40-F for the year ended December 31, 2025. The disclosures include an audit report with a going concern emph...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.