Northern Dynasty Minerals (NDM) AI Stock Analysis

• Market Cap: $1.63B
• Dividend Yield: N/A
• Average Volume (3M): 2.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.66
• Revenue Growth: N/A
• EPS Growth: -381.19%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 552,533,700
• 10 Day Avg. Volume: 4,180,930
• 30 Day Avg. Volume: 2,040,678
• 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 Cap: 0.64
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -12.77K
• Enterprise Value/Ebitda: -12.84
• 1Y Price Target: $3.48
• Price Target Upside: 17.94% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$3.00 ▲(1.69% Upside)

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.

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 approximately 274 square miles located in southwest Alaska, 17 miles from the villages of Iliamna and Newhalen, and approximately 200 miles southwest of the city of Anchorage. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd. in October 1997. Northern Dynasty Minerals Ltd. was incorporated in 1983 and is headquartered in Vancouver, Canada.

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, or selling stakes in the project to larger mining companies with the capital and expertise to bring the project to production. Additionally, Northern Dynasty may generate income through royalties, licensing fees, or direct sales of extracted minerals in the future. However, as of now, the company is in the exploration and development phase, focusing on obtaining necessary permits and advancing the project to attract investment and partnerships.

Northern Dynasty Minerals Financial Statement Overview

Summary

Northern Dynasty Minerals is experiencing significant financial difficulties, with no revenue generation and ongoing losses. The balance sheet shows moderate leverage, but declining equity and high liabilities. Negative cash flows highlight liquidity challenges, indicating the need for improved operational efficiencies and revenue generation strategies.

Income Statement

Northern Dynasty Minerals has consistently reported zero revenue, reflecting challenges in generating sales. The company has negative gross and net profit margins, indicating ongoing operating losses. The company’s EBIT and EBITDA margins are significantly negative, which further highlights the operational inefficiencies and inability to cover fixed costs.

Balance Sheet

The company maintains a relatively low debt-to-equity ratio, suggesting conservative leverage. However, the declining stockholders' equity and increasing liabilities raise concerns about financial stability. The equity ratio is decreasing, impacting the company's long-term solvency position.

Cash Flow

Cash flow sustainability is a concern with negative operating and free cash flows, indicating cash outflows exceed inflows from operations. The operating cash flow to net income and free cash flow to net income ratios are unfavorable, showing inefficiencies in cash management and net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	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	2.57M	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

• Technical Analysis Sentiment: Positive
• Last Price: 2.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 2.95 is above the 20-day moving average (MA) of 2.92, above the 50-day MA of 2.69, and above the 200-day MA of 1.92, indicating a bullish trend. The MACD of 0.08 indicates Positive momentum. The RSI at 54.41 is Neutral, neither overbought nor oversold. The STOCH value of 64.37 is Neutral, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AFM	82 Outperform	C$1.61B	9.66	33.87%	9.17%	34.89%	67.31%
ALS	81 Outperform	C$2.03B	5.62	53.36%	0.94%	-0.76%	2549.18%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
USA	58 Neutral	$2.04B	-19.25	-144.69%	―	14.32%	37.85%
TMQ	54 Neutral	C$1.21B	-89.51	-7.00%	―	―	7.70%
WRN	52 Neutral	C$844.60M	-222.34	-1.92%	―	―	41.98%
NDM	49 Neutral	$1.63B	-19.22	-92.64%	―	―	-381.19%

Northern Dynasty Minerals Corporate Events

Northern Dynasty Minerals Updates Board Search and Compliance Efforts

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 NYSE American rules. The company expects to resolve this compliance issue within the 180-day cure period.

The most recent analyst rating on (TSE:NDM) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Northern Dynasty Minerals stock, see the TSE:NDM Stock Forecast page.

Industry Groups Support Northern Dynasty in Legal Battle Over Pebble Mine Veto

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 argues that the veto is unjust and poses significant economic risks, especially as global demand for copper rises. The associations emphasize the importance of the project for the U.S. economy and criticize the EPA’s regulatory approach, which they claim could harm the mining industry and broader economic interests.

The most recent analyst rating on (TSE:NDM) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Northern Dynasty Minerals stock, see the TSE:NDM Stock Forecast page.

Northern Dynasty Minerals Resumes Legal Proceedings Post Federal Shutdown

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 timelines for filing briefs. The company aims to resolve the issue through discussions to potentially withdraw an Obama/Biden-era veto, which they consider illegal, while continuing court proceedings to maintain tight timelines.

The most recent analyst rating on (TSE:NDM) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Northern Dynasty Minerals stock, see the TSE:NDM Stock Forecast page.

Northern Dynasty Secures Final Tranche of $60 Million Royalty Investment

Northern Dynasty Minerals Ltd. has received the final $12 million tranche of a $60 million royalty investment, completing a program initiated in 2022 to enhance liquidity without equity dilution. This investment allows the royalty holder to receive a percentage of future gold and silver production from the Pebble Project, while Northern Dynasty retains full rights to copper, molybdenum, and rhenium production. The completion of this investment strengthens the company’s financial position as it continues to address regulatory challenges and advance the Pebble Project through permitting.

The most recent analyst rating on (TSE:NDM) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Northern Dynasty Minerals stock, see the TSE:NDM Stock Forecast page.

Northern Dynasty Challenges EPA Veto on Pebble Project

Northern Dynasty Minerals Ltd. and its subsidiary, Pebble Limited Partnership, have filed a Summary Judgement Brief in Alaska Federal Court challenging the legality of a veto by the Environmental Protection Agency (EPA) that affects their Pebble Project. The company argues that the veto imposes significant economic costs on Alaska and the U.S., violates the Alaska Statehood Act, and relies on unsubstantiated claims about environmental impacts. Northern Dynasty seeks to have the veto withdrawn and is engaged in settlement discussions with the government, while also opposing a government request to stay the case due to a U.S. government shutdown.

The most recent analyst rating on (TSE:NDM) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Northern Dynasty Minerals stock, see the TSE:NDM Stock Forecast page.