Austin Gold (NYSE:AUST) Shares Up 5.8% – Here’s Why

Austin Gold Corp. (NYSE:AUST) shares shot up 5.8% during trading on Tuesday . The company traded as high as $1.1650 and last traded at $1.09. Approximately 286,673 shares changed hands during trading, a decline of 59% from the average daily volume of 701,514 shares. The stock had previously closed at $1.03.

Austin Gold Stock Up 0.8%

The company has a market cap of $16.71 million, a price-to-earnings ratio of -3.94 and a beta of 0.94. The company has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $1.45.

Hedge Funds Weigh In On Austin Gold

A hedge fund recently raised its stake in Austin Gold stock. Peak Financial Management Inc. raised its holdings in Austin Gold Corp. (NYSE:AUST) by 40.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Peak Financial Management Inc. owned 0.20% of Austin Gold worth $41,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 62.08% of the company’s stock.

Austin Gold Company Profile

Austin Gold Corp., a gold exploration company, focuses on the acquisition, exploration, and evaluation of mineral property interests in Nevada. The company holds interest in Kelly Creek Project located in the Kelly Creek Basin, in southeastern Humboldt County, Nevada; Fourmile Basin Project that comprises various unpatented lode mining claims covering approximately 6410 acres located in Nye County; the Lone Mountain Project consisting of various unpatented lode mining and patented mining claims located near Lone Mountain in Elko County.