Northern Dynasty (NAK) Jumps 28% on Copper, Gold Rush

NAK -1.08% HG=F +0.57% GC=F +0.41% DX-Y.NYB -0.17%

We recently published 10 Small Caps With Big Double-Digit Gains. Northern Dynasty Minerals Ltd. (NYSEAmerican:NAK) is one of the top performers of last week.

Northern Dynasty Minerals climbed by 28 percent week-on-week, as investors placed bets on copper and gold miners amid the surge in prices of the said metals.

Last Friday alone, gold spot increased by 1.97 percent to $4,239 per troy ounce while copper was up by 2.28 percent at $11,189 per metric ton, as traders set sights on precious metals ahead of an expected interest rate cut in the next few days.

The Federal Reserve is set to meet for its last open market committee meeting for the year, and economists are placing bets on a 25-basis-point rate cut.

Mark Agnor/Shutterstock.com

Lower rates typically weaken the US dollar, making it cheaper to buy precious metals and thus benefiting producers like Northern Dynasty Minerals Ltd. (NYSEAmerican:NAK).

In other recent news, Northern Dynasty Minerals Ltd. (NYSEAmerican:NAK) announced a 72 percent wider net loss of C$7.9 million versus C$4.6 million in the same period last year.

The figures were pulled down by a 78 percent higher operating loss of C$6.48 million versus C$3.6 million year-on-year, primarily due to higher expenses from exploration as well as general and administrative items.

While we acknowledge the potential of NAK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.