Critical Analysis: Northern Dynasty Minerals vs. Golden Minerals

Comparing the performance and prospects of two small-cap basic materials companies

Published on Feb. 12, 2026

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Golden Minerals (NYSE:AUMN) and Northern Dynasty Minerals (NASDAQ:NAK) are both small-cap basic materials companies, but which one is the better business? This analysis compares the two companies based on factors like profitability, analyst recommendations, dividends, earnings, risk, valuation, and institutional ownership.

Why it matters

Investors looking to gain exposure to the basic materials sector may be considering these two small-cap companies. Understanding how they compare on key metrics can help inform investment decisions and provide insight into the relative strengths and weaknesses of each business.

The details

The analysis finds that Northern Dynasty Minerals has a stronger consensus rating from analysts and higher potential upside, suggesting it may be the more favorable investment. Northern Dynasty also outperforms Golden Minerals on 8 out of 11 factors compared, including net margins, return on equity, and return on assets.

  • The analysis was published on February 13, 2026.

The players

Golden Minerals Company

A precious metals exploration company that explores for gold, silver, copper, zinc, lead, and other minerals in Argentina, Nevada, and Mexico. The company was formerly known as Apex Silver Mines Limited and changed its name to Golden Minerals Company in 2009.

Northern Dynasty Minerals Ltd.

A mineral exploration company that engages in the exploration of properties in the United States, with its principal mineral property being the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project in southwest Alaska. The company was formerly known as Northern Dynasty Explorations Ltd. and changed its name to Northern Dynasty Minerals Ltd. in 1997.

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The takeaway

This analysis highlights the relative performance and prospects of two small-cap basic materials companies, providing investors with a data-driven comparison to help inform their investment decisions in this sector.