ASA Gold and Precious Metals (NYSE:ASA) Reaches New 52-Week High - Still a Buy?

Key Points

• ASA Gold and Precious Metals' stock reached a new 52-week high of $49.64 during trading, up from a previous close of $46.89.
• Weiss Ratings reaffirmed a "buy (b)" rating, indicating a positive outlook on the stock, which has a current consensus rating of "Buy" from analysts.
• The company declared a semi-annual dividend of $0.03 per share, equating to a significant dividend yield of 14.0%, payable on November 19th.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.64 and last traded at $49.30, with a volume of 106520 shares trading hands. The stock had previously closed at $46.89.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, ASA Gold and Precious Metals currently has a consensus rating of "Buy".

ASA Gold and Precious Metals Trading Up 5.1%

The firm's 50 day simple moving average is $40.10 and its 200-day simple moving average is $34.18.

ASA Gold and Precious Metals Announces Dividend

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

Insider Activity at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. purchased 354,169 shares of ASA Gold and Precious Metals stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $35.39 per share, for a total transaction of $12,534,040.91. Following the acquisition, the insider directly owned 4,040,715 shares in the company, valued at approximately $143,000,903.85. The trade was a 9.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 1,422,990 shares of company stock worth $53,607,353. 1.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASA. JPMorgan Chase & Co. purchased a new position in shares of ASA Gold and Precious Metals during the 2nd quarter worth $61,000. Fruth Investment Management purchased a new position in shares of ASA Gold and Precious Metals during the 1st quarter worth $226,000. Steward Partners Investment Advisory LLC raised its holdings in shares of ASA Gold and Precious Metals by 143.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock worth $229,000 after acquiring an additional 4,272 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of ASA Gold and Precious Metals during the 2nd quarter worth $231,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of ASA Gold and Precious Metals during the 1st quarter worth $235,000.

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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