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← CockpitCompetitor Analysis › NDM.TO Northern Dynasty Minerals Ltd.Open in the cockpit ↗

Northern Dynasty Minerals Ltd.NDM.TOCompetitor analysis, valuation and peers

Canada · CAD·Materials›Other Metals/Minerals
Momentum laggard 0
Mkt cap
$349M
US dollars, full cap
Free float
98%
of shares outstanding
$/day
$957,423
20-day average traded
P/B
42.65×
price to book
ROE
-261.3%
delivered
Implied ROE
198.2%
what the price asks
Next earnings
11 days
17 Nov 2026
Close · CADC$0.87
1D+6.1%
1W-22.3%
1M-48.5%
3M-63.5%
6M-69.0%
YTD-67.8%
1Y-65.8%
ATR %12.0%
52w lowhigh76.1% off high

What Northern Dynasty Minerals does

No business profile yet.

Northern Dynasty Minerals at a glance

Size Northern Dynasty Minerals (NDM.TO) is a Canada Materials company (Other Metals/Minerals) with a market value of $349M, the 393rd largest of 420 Canada companies the cockpit tracks. Shares closed at C$0.87 on 6 Nov 2026.

Performance Over six months the shares fell 69.0%, against -30.6% for the median peer and +5.2% for the Canada market (cap-weighted) — 2nd lowest of 21 in its peer set.

Valuation It trades at 42.65× book value against a peer median of 1.83× (2nd most expensive of 21).

Price implies The share price implies a return on equity of about 198.2%; Northern Dynasty Minerals delivers -261.3%, so the price asks more than the business earns today.

Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).

Relative performance

25507510011 May 202611 Aug 20266 Nov 2026Peer median 70NDM.TO 30
Six months, rebased to 100: Northern Dynasty Minerals against the median of its 20 peers (local-currency closes).

Northern Dynasty Minerals financials

Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueC$0C$0C$0C$0C$0
Revenue growth—————
Gross profit-C$170,000-C$172,000-C$162,000-C$164,000-C$259,000
EBITDA-C$27.0M-C$23.1M-C$18.2M-C$22.2M-C$24.3M
Net income-C$67.2M-C$104M-C$36.1M-C$21.0M-C$24.4M
Free cash flow-C$22.8M-C$22.7M-C$16.4M-C$21.9M-C$23.8M
Capital expenditureC$0C$0C$0C$0C$31,000
Total debtC$102MC$101MC$38.8MC$19.3MC$613,000

Quarterly statements and history in the cockpit →

Northern Dynasty Minerals competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%-50%-25%0%+25%A1M300828SLVR2009336370RMWRNSLIJMSSTPSICOVULA4NBRELZMTTSPOCL600281NDM.TO6-month return →1-month return →
Up and to the right = strong over both horizons. Northern Dynasty Minerals is the large dot.

Fundamentals: return on equity against price-to-book

-200%-100%0%00×1000×A1M300828RMTTS600281TMQNDM.TOReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Northern Dynasty Minerals is the large dot.

Capital: ROE delivered against the ROE the price implies

0%500%1,000%1,500%2,000%0%1,000%2,000%A1M300828RMTTSNDM.TOROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Northern Dynasty Minerals is the large dot.

Northern Dynasty Minerals competitors and peer comparison

How Northern Dynasty Minerals compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Northern Dynasty Minerals against its 20 peers (data as of 6 Nov 2026)
MeasureNDM.TOPeer medianRank in peer set
1-month return-48.5%-13.4%lowest of 21
6-month return-69.0%-30.6%2nd lowest of 21
Return on equity-261.3%-6.6%lowest of 20
Price / book42.65×1.83×2nd most expensive of 21
ROE the price implies198.2%22.6%2nd most demanding of 21
ROE delivered-261.3%-6.6%lowest of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Northern Dynasty Minerals NDM.TOCanada$349M-69%n/a-261%42.65×198.2%-261.3%
AIC Mines A1M.AXAustralia$349M-2%+29%13%1.46×8.1%13.3%
Tianjin Ruixin Technology 300828.SZChina$353M-35%+22%5%2.90×26.0%4.5%
Silver Tiger Metals SLVR.TOCanada$344M-12%n/a-4%1.97×28.7%-3.9%
First Copper Technology 2009.TWTaiwan$355M-14%+7%5%1.34×6.9%4.7%
Solus Advanced Materials 336370.KSSouth Korea$343M-52%+1%-7%0.74×7.4%-6.6%
Roxmore Resources RM.TOCanada$357M+65%n/a-19%6.05×97.7%-18.8%
Western Copper and Gold WRN.TOCanada$339M-48%n/a-3%1.70×19.3%-2.6%
Standard Lithium SLI.VCanada$365M-62%n/a-15%0.97×15.9%-15.5%
Jupiter Mines JMS.AXAustralia$334M-16%-2%7%0.83×7.2%6.6%
Stalprodukt STP.WAPoland$333M-1%-7%-1%0.34×5.1%-1.5%
Silverco Mining SICO.VCanada$331M-17%n/a-19%2.07×29.0%-19.4%
Vulcan Energy Resources VUL.AXAustralia$370M-70%-33%-18%0.47×9.5%-17.9%
Alpha HPA A4N.AXAustralia$372M-42%+135%-14%1.31×14.6%-13.5%
Brazilian Rare Earths BRE.AXAustralia$324M-69%n/an/a3.55×27.2%n/a
Lifezone Metals LZMUnited States$378M-30%+652%-17%4.24×39.2%n/a
Tintina Mines TTS.VCanada$380M+219%n/a-100%173.11×2,008.6%-99.6%
Pondy Oxides & Chemicals POCL.NSIndia$317M-32%+49%19%3.79×64.4%n/a
Shanxi Huayang New Material 600281.SSChina$385M-11%+10%-59%14.25×102.7%-59.5%
Trilogy Metals TMQ.TOCanada$391M-50%n/a-39%3.22×29.5%-39.3%
Anhui Zhongyuan New Materials 603527.SSChina$396M-36%+59%1%1.25×11.2%1.1%

Questions

Which companies are Northern Dynasty Minerals's closest peers?
The cockpit's peer set: AIC Mines (A1M.AX), Tianjin Ruixin Technology (300828.SZ), Silver Tiger Metals (SLVR.TO), First Copper Technology (2009.TW), Solus Advanced Materials (336370.KS), Roxmore Resources (RM.TO), Western Copper and Gold (WRN.TO), Standard Lithium (SLI.V).
Is Northern Dynasty Minerals expensive compared with its peers?
On price / book it trades at 42.65× against a peer median of 1.83×, 2nd most expensive of 21 in its peer set. The share price implies a return on equity of about 198.2%; Northern Dynasty Minerals delivers -261.3%, so the price asks more than the business earns today.
How has Northern Dynasty Minerals stock performed?
Over six months to 6 Nov 2026 the shares returned -69.0% against -30.6% for the median peer; over one year -65.8%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.