Namib Minerals (NASDAQ:NAMM) Trading Up 5.3% – Time to Buy?

Namib Minerals (NASDAQ:NAMM)’s stock price rose 5.3% during mid-day trading on Wednesday . The company traded as high as $2.44 and last traded at $2.40. Approximately 709,488 shares changed hands during trading, a decline of 40% from the average daily volume of 1,179,166 shares. The stock had previously closed at $2.28.

Analyst Ratings Changes

NAMM has been the subject of several analyst reports. Zacks Research raised Namib Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Namib Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Namib Minerals Stock Performance

The company’s fifty day simple moving average is $3.03 and its two-hundred day simple moving average is $2.34. The company has a market capitalization of $128.83 million, a price-to-earnings ratio of -1.89 and a beta of -0.02.

Institutional Trading of Namib Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lineage Point Capital LP acquired a new stake in Namib Minerals during the fourth quarter valued at approximately $130,000. Polar Asset Management Partners Inc. grew its position in shares of Namib Minerals by 14.8% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company’s stock worth $4,428,000 after acquiring an additional 173,899 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Namib Minerals in the 3rd quarter worth approximately $63,000. 59.54% of the stock is owned by institutional investors.

Namib Minerals Company Profile

Namib Minerals Ltd, traded on the Nasdaq under the symbol NAMM, is a mineral exploration and development company focused on identifying and advancing critical mineral deposits in Namibia. The company’s primary business activities include geological surveying, core drilling programs and resource estimation to define lithium, tantalum and other battery-grade mineral targets. Namib Minerals aims to leverage Namibia’s stable mining jurisdiction to develop projects that support the growing demand for high-purity minerals in the global electric vehicle and energy storage markets.

Headquartered in Windhoek, Namibia, the company’s exploration portfolio lies within recognized mineral belts known for lithium and associated rare elements.