Northern Dynasty Minerals: Broker reinstates rating as dust settles over Pebble Mine project

Northern Dynasty Minerals

04/09/2020 15:29

** Broker Cantor Fitzgerald reinstates its "speculative buy"
rating on Canadian miner  NDM.TO , but lowers target price to
C$2.50 from C$4.50
    ** Broker had placed its target and rating on NDM under
review Aug. 23 amid rising doubts over whether co can clear
regulatory hurdles for its Pebble Mine project in Alaska
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    ** "For now, it appears the fire has burned out, the dust
has settled, and cooler heads have prevailed," says broker
    ** Adds that despite all the noise over the last two weeks,
the Pebble project is by no means "dead"
    ** U.S. Army Corps of Engineers last week gave NDM 90 days
to explain how it would offset "unavoidable adverse impacts" to
more than 3,200 acres (1,295 hectares) of wetlands were the mine
to be developed
    ** The mine, one of the world's largest copper and gold
deposits, has seen multiple regulatory roadblocks over the past
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    ** Stock up about 4% for the week, after losing more than
38% last week

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))