ASA Gold and Precious Metals (NYSE:ASA) Reaches New 1-Year High - Still a Buy?

Key Points

• ASA Gold and Precious Metals achieved a new 52-week high of $48.18, marking a significant increase from the previous close of $46.59.
• Weiss Ratings reaffirmed a "buy (b)" rating for ASA Gold and Precious Metals, indicating positive sentiment among analysts.
• The company announced a semi-annual dividend of $0.03 per share, resulting in a 14.0% dividend yield for stockholders of record on November 12th.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.89 and last traded at $48.18, with a volume of 39684 shares. The stock had previously closed at $46.59.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

ASA Gold and Precious Metals Stock Up 3.3%

The company has a 50-day simple moving average of $38.79 and a 200 day simple moving average of $33.61.

ASA Gold and Precious Metals Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 14.0%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 5,779 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average price of $41.78 per share, with a total value of $241,446.62. Following the purchase, the insider directly owned 4,656,677 shares in the company, valued at $194,555,965.06. This represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 1,352,528 shares of company stock valued at $50,291,102. 1.69% of the stock is owned by insiders.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC acquired a new position in ASA Gold and Precious Metals in the first quarter worth $220,000. Atria Wealth Solutions Inc. acquired a new position in ASA Gold and Precious Metals in the first quarter worth $235,000. Cetera Investment Advisers boosted its stake in ASA Gold and Precious Metals by 223.9% in the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after purchasing an additional 130,547 shares in the last quarter. Private Advisor Group LLC boosted its stake in ASA Gold and Precious Metals by 57.7% in the first quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company's stock worth $2,473,000 after purchasing an additional 30,024 shares in the last quarter. Finally, Sessa Capital IM L.P. boosted its stake in ASA Gold and Precious Metals by 56.3% in the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock worth $31,647,000 after purchasing an additional 378,327 shares in the last quarter.

ASA Gold and Precious Metals Company Profile

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.

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