ASA Gold and Precious Metals (NYSE:ASA) Reaches New 52-Week High – What’s Next?

ASA Gold and Precious Metals Limited (NYSE:ASA)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $79.00 and last traded at $77.80, with a volume of 8200 shares traded. The stock had previously closed at $77.32.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, ASA Gold and Precious Metals currently has an average rating of “Buy”.

ASA Gold and Precious Metals Trading Up 1.2%

The business has a 50-day moving average price of $65.89 and a two-hundred day moving average price of $52.40.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. purchased 83,533 shares of the stock in a transaction dated Thursday, February 12th. The stock was acquired at an average price of $69.69 per share, for a total transaction of $5,821,414.77. Following the completion of the transaction, the insider owned 5,853,141 shares of the company’s stock, valued at approximately $407,905,396.29. The trade was a 1.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 657,069 shares of company stock worth $43,596,808 over the last three months. Insiders own 1.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. WHI TRUST Co LLC bought a new stake in shares of ASA Gold and Precious Metals during the fourth quarter valued at approximately $30,000. Advisory Services Network LLC acquired a new position in ASA Gold and Precious Metals during the 3rd quarter worth $55,000. Kestra Advisory Services LLC bought a new position in shares of ASA Gold and Precious Metals in the fourth quarter worth $58,000. JPMorgan Chase & Co. acquired a new position in shares of ASA Gold and Precious Metals during the second quarter valued at $61,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of ASA Gold and Precious Metals during the fourth quarter valued at about $95,000.

ASA Gold and Precious Metals Company Profile

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.