Northern Dynasty Minerals (NAK) is basically the poster child for "high risk, high reward." If you've been following the nak stock news today, you know the ticker is currently doing its usual dance. As of January 12, 2026, the stock is sitting around $2.07, down about 5.9% today after a bit of a wild ride over the holidays. It’s one of those companies that people either love to bet on or absolutely hate to touch. Honestly, it’s not hard to see why. The company’s entire existence revolves around the Pebble Project in Alaska, which contains enough copper and gold to make a pirate blush, but it’s been stuck in a legal swamp for years.
Today’s drop follows a week where the stock actually showed some life, even crossing its 200-day moving average. Some investors were feeling pretty bullish, thinking a new administration or a legal breakthrough was right around the corner. But the reality is a bit more complicated.
What’s Actually Happening with the Lawsuit?
The big thing everyone is staring at is the legal battle with the EPA. Back in 2023, the EPA used a "veto" under the Clean Water Act to block the mine, saying it would trash the Bristol Bay salmon fishery. Northern Dynasty didn’t just take that lying down. They sued, and they’ve been trying to get that veto tossed out ever since.
Right now, we’re in a bit of a waiting game. The Department of Justice (DOJ) was supposed to file a response brief by early January, but thanks to a 43-day federal shutdown that happened recently, the court pushed the deadline back to February 16, 2026. Ron Thiessen, the CEO, wasn't exactly thrilled about the delay. He’s been pushing for a settlement instead of a long-drawn-out court fight. He basically said that talking it out with government officials would be way faster than waiting for a judge to rule on summary judgment.
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- February 16, 2026: New DOJ response deadline.
- April 15, 2026: The date Northern Dynasty has to file its rebuttal.
- Mid-2026: When we might actually hear something definitive from Judge Sharon Gleason.
It's a slog. If you're holding NAK, you’re not just an investor; you’re a part-time legal clerk at this point.
The Copper Factor: Why People Still Care
Why does anyone still care about a mine that might never happen? Copper. Pure and simple. Copper prices have been hovering at massive levels—think north of $13,000 per tonne—and the world is screaming for the stuff to build EVs and power grids. The Pebble deposit is massive. We're talking 6.4 billion pounds of copper and 7.4 million ounces of gold over just the first 20 years.
Analysts like those at H.C. Wainwright have stuck with a Buy rating and a $2.50 price target. They see the value of the dirt, even if the permits are currently non-existent. There was also a recent $12 million royalty payment that hit the books, which gives the company a little more runway to pay their lawyers and keep the lights on in Vancouver. Without that cash, things would look a lot grimmer.
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The Opposition Isn't Budging
It’s not just the EPA that Northern Dynasty is fighting. You’ve got a massive coalition of tribal groups, commercial fishermen, and environmentalists who are ready to go to the mat. They argue that the risk to the world’s largest sockeye salmon run is just too high. Even if the federal government decided to settle tomorrow, these groups have already "intervened" in the case. That means they can keep the fight going in court even if the DOJ tries to walk away.
There’s also talk in the Alaska Legislature about a bill to block the project entirely. It's a political minefield. You have the State of Alaska suing the feds, claiming the veto is an "illegal confiscation" of state land worth $700 billion, while local communities are divided on whether the jobs are worth the environmental risk.
Technicals and What to Watch
If you’re looking at the charts for the nak stock news today, it’s a volatility play. The stock has a 52-week range of $0.55 to $2.98. It’s swinging wildly.
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- Support Levels: The stock seems to find some floor around $2.01 to $2.05. If it breaks below that, the next stop could be a lot lower.
- Resistance: It’s struggling to stay above $2.20. Every time it gets there, sellers seem to jump in to take profits.
- Volume: We saw about 9 million shares move today. That's decent, but it's lower than the 12-million-share average we saw during the December spikes.
Is it a buy? Honestly, it depends on your stomach for risk. Some folks see a $2 stock that could be worth $10 if the mine opens. Others see a company with zero revenue that’s been promising a "breakthrough" since the Bush administration. Both are kinda right.
Actionable Steps for Investors
If you're looking to navigate the NAK situation, don't just trade the headlines. You need a plan for the dead zones between court dates.
- Watch the DOJ Filing: Mark February 16 on your calendar. If the DOJ asks for another extension, expect the stock to bleed. If they file something that hints at a settlement, it might pop.
- Monitor Copper Futures: NAK often moves in sympathy with the broader metals market. If copper takes a dive, NAK will likely follow, regardless of what’s happening in court.
- Limit Position Size: This isn't a "bet the house" stock. Given the binary nature of the Pebble Project (it either happens or it doesn't), most pros keep this to a tiny percentage of their portfolio.
- Check the SEC Filings: Look for any more "royalty interest" sales. It’s how they are funding themselves right now, but it also means they are selling off pieces of the future profit before they even dig a hole.
The nak stock news today reminds us that mining isn't just about rocks; it's about rules. Until those rules change, Northern Dynasty remains a high-stakes gamble on the Alaskan legal system.