Northern Dynasty Minerals (TSE:NDM)
TSX:NDM
Top Page
Northern Dynasty Minerals
(TSX:NDM)
Select Model
Select Model
Rating:49Neutral
Price Target:
C$3.00
▲(66.67% Upside)
Action:ReiteratedDate:12/30/25
The score is primarily held back by weak financial performance (no revenue, widening losses, and ongoing cash burn), partially offset by low leverage. Technicals are neutral-to-mildly supportive (above key longer-term averages, neutral RSI/Stoch), while valuation remains constrained by unprofitability and no dividend. Corporate events add a modest offset via improved liquidity, but ongoing legal/regulatory uncertainty remains significant.
Positive Factors
Low leverage
Very low reported debt materially reduces near-term solvency and refinancing risk for a development-stage miner. This preserves optionality to pursue permitting and partner negotiations without heavy interest burdens, allowing capital to be allocated to studies and stakeholder engagement over months.
Negative Factors
No revenue / cash burn
Sustained negative operating and free cash flow forces ongoing external financing to advance the project, increasing dilution or financing costs. Continued large losses reduce flexibility to respond to delays or litigation, making project progress contingent on capital markets or partner commitments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low reported debt materially reduces near-term solvency and refinancing risk for a development-stage miner. This preserves optionality to pursue permitting and partner negotiations without heavy interest burdens, allowing capital to be allocated to studies and stakeholder engagement over months.
Read all positive factors
Northern Dynasty Minerals (NDM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$994.56M
Dividend YieldN/A
Average Volume (3M)2.04M
Price to Earnings (P/E)―
Beta (1Y)1.67
Revenue GrowthN/A
EPS Growth-381.19%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.00
Shares Outstanding552,533,700
10 Day Avg. Volume4,180,930
30 Day Avg. Volume2,040,678
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)4.59
Price to Sales (P/S)0.00
P/FCF Ratio-26.04
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 Upside92.00% 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 Minerals makes money primarily through the development and eventual commercialization of its mineral resources, particularly from the Pebble Project. The company's revenue model centers around securing partnerships, joint ventures...
Northern Dynasty Minerals Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2024 | Mar 2024 | Mar 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -82.00K | -162.00K | -164.00K | -104.00K | -192.00K | -533.00K |
| EBITDA | -81.56M | -35.10M | -22.18M | -24.07M | -30.90M | -62.01M |
| Net Income | -82.80M | -36.15M | -21.00M | -24.44M | -31.54M | -63.87M |
Balance Sheet | ||||||
| Total Assets | 127.29M | 137.16M | 143.85M | 145.22M | 159.28M | 180.37M |
| Cash, Cash Equivalents and Short-Term Investments | 44.85M | 16.14M | 18.20M | 14.17M | 22.29M | 42.46M |
| Total Debt | 3.15M | 3.47M | 2.66M | 613.00K | 687.00K | 916.00K |
| Total Liabilities | 66.90M | 39.96M | 20.56M | 2.53M | 3.79M | 8.07M |
| Stockholders Equity | 60.40M | 97.20M | 123.28M | 142.69M | 155.49M | 172.31M |
Cash Flow | ||||||
| Free Cash Flow | -20.47M | -17.14M | -22.11M | -23.99M | -32.48M | -57.82M |
| Operating Cash Flow | -20.47M | -17.14M | -22.11M | -23.96M | -32.48M | -57.82M |
| Investing Cash Flow | 33.75M | 14.59M | 2.95M | 15.67M | 164.00K | 130.00K |
| Financing Cash Flow | 9.00M | -123.00K | 23.31M | -129.00K | 12.19M | 87.97M |
Northern Dynasty Minerals Technical Analysis
Negative
1.80
Price Trends
2.31
Negative
2.50
Negative
2.16
Negative
Market Momentum
-0.15
Negative
44.66
Neutral
73.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NDM, the sentiment is Negative. The current price of 1.8 is above the 20-day moving average (MA) of 1.79, below the 50-day MA of 2.31, and below the 200-day MA of 2.16, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 44.66 is Neutral, neither overbought nor oversold. The STOCH value of 73.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | C$2.62B | 6.33 | 53.36% | 0.94% | -0.76% | 2549.18% | |
73 Outperform | C$1.38B | 7.36 | 49.14% | 9.17% | 34.89% | 67.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$994.56M | -29.25 | -125.19% | ― | ― | -381.19% | |
45 Neutral | C$804.06M | -17.32 | -32.78% | ― | ― | 7.70% | |
44 Neutral | C$672.85M | -236.09 | -1.92% | ― | ― | 41.98% | |
44 Neutral | C$2.09B | -39.03 | -113.86% | ― | 14.32% | 37.85% |
* Basic Materials Sector Average
TSE:NDM
Northern Dynasty Minerals
1.80
0.18
11.11%
TSE:TMQ
Trilogy Metals
4.66
2.46
111.82%
TSE:WRN
Western Copper
3.33
1.69
103.05%
TSE:AFM
Alphamin Resources
1.08
0.64
145.45%
TSE:ALS
Altius Minerals
46.79
22.32
91.20%
TSE:USA
Americas Gold and Silver
7.62
5.70
295.84%
Northern Dynasty Minerals Corporate Events
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesRegulatory Filings and Compliance
Northern Dynasty Restores NYSE Compliance With Appointment of New Audit Chair
Positive
Jan 15, 2026
Northern Dynasty Minerals has appointed Stephen Meyer, a seasoned investment management executive and current president and CEO of a U.S. private equity real estate firm, to its board of directors and as chair of the audit and risk committee, fill...
Executive/Board ChangesRegulatory Filings and Compliance
Northern Dynasty Minerals Updates Board Search and Compliance Efforts
Neutral
Dec 6, 2025
Northern Dynasty Minerals has announced its ongoing search for a new independent director to replace Christian Milau, who resigned in September 2025. The new director will also chair the Audit Risk Committee, which is currently non-compliant with...
Business Operations and StrategyLegal Proceedings
Industry Groups Support Northern Dynasty in Legal Battle Over Pebble Mine Veto
Negative
Dec 1, 2025
Northern Dynasty Minerals Ltd. announced that several major industry associations and the U.S. Chamber of Commerce have filed legal documents in support of the Pebble Mine project in Alaska, which is currently blocked by an EPA veto. The company a...
Legal Proceedings
Northern Dynasty Minerals Resumes Legal Proceedings Post Federal Shutdown
Neutral
Nov 19, 2025
Northern Dynasty Minerals announced the resumption of a lawsuit in the Alaska Federal Court following a 43-day federal government shutdown. The case involves the State of Alaska and other plaintiffs against the Department of Justice, with revised ...
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.