Northern Dynasty Minerals Stock Plunges 38%

Investors question the future of the Pebble Project after the latest stock drop.

Published on Feb. 21, 2026

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Shares of Northern Dynasty Minerals Ltd. (TSE:NDM), a mineral exploration and development company based in Vancouver, Canada, dropped 38% on Thursday. The stock traded as low as C$1.52 and closed at C$1.71, with over 5.6 million shares traded, a significant increase from the average daily volume. The company's principal asset is a 100% interest in the Pebble Project, a mineral deposit located in Southwest Alaska, about 200 miles from Anchorage.

Why it matters

The sharp decline in Northern Dynasty's stock price raises concerns about the future of the Pebble Project, which has faced significant opposition from environmental groups and local communities due to potential environmental impacts. The project's viability has been a topic of debate, and this latest stock drop may further erode investor confidence in the company's ability to develop the Pebble deposit.

The details

Northern Dynasty Minerals Ltd. is a mineral exploration and development company based in Vancouver, Canada. The company's principal asset is a 100% interest in the Pebble Project, a large copper-gold-molybdenum deposit located in Southwest Alaska, about 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership, a wholly-owned subsidiary of Northern Dynasty, is the proponent of the Pebble Project.

  • On Thursday, February 21, 2026, Northern Dynasty Minerals' stock price dropped 38%.
  • The stock traded as low as C$1.52 and closed at C$1.71, with over 5.6 million shares traded.

The players

Northern Dynasty Minerals Ltd.

A mineral exploration and development company based in Vancouver, Canada, with a 100% interest in the Pebble Project, a large copper-gold-molybdenum deposit in Southwest Alaska.

Pebble Partnership

A wholly-owned subsidiary of Northern Dynasty Minerals that is the proponent of the Pebble Project.

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The takeaway

The significant drop in Northern Dynasty Minerals' stock price highlights the ongoing challenges and uncertainty surrounding the Pebble Project. The project's potential environmental impacts and local opposition have been longstanding issues, and this latest stock decline may further erode investor confidence in the company's ability to develop the deposit.