ASA Gold and Precious Metals (NYSE:ASA) Reaches New 12-Month High – Time to Buy?

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.39 and last traded at $66.20, with a volume of 16350 shares changing hands. The stock had previously closed at $63.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Price Performance

The firm has a fifty day simple moving average of $56.20 and a two-hundred day simple moving average of $45.55.

Insider Transactions at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. acquired 28,500 shares of the stock in a transaction on Monday, October 27th. The stock was acquired at an average cost of $44.08 per share, for a total transaction of $1,256,280.00. Following the completion of the acquisition, the insider directly owned 5,079,840 shares of the company’s stock, valued at approximately $223,919,347.20. This represents a 0.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 474,910 shares of company stock valued at $24,327,534 over the last ninety days. 1.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several hedge funds have recently added to or reduced their stakes in ASA. Advisory Services Network LLC bought a new position in ASA Gold and Precious Metals in the 3rd quarter worth about $55,000. JPMorgan Chase & Co. purchased a new stake in ASA Gold and Precious Metals during the 2nd quarter valued at $61,000. Savant Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the 3rd quarter worth $220,000. Steward Partners Investment Advisory LLC raised its stake in shares of ASA Gold and Precious Metals by 143.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after purchasing an additional 4,272 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of ASA Gold and Precious Metals during the second quarter valued at $231,000.

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.