ASA Gold and Precious Metals (NYSE:ASA) Hits New 12-Month High – What’s Next?

ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $76.69 and last traded at $76.50, with a volume of 26417 shares trading hands. The stock had previously closed at $73.61.

Analysts Set New Price Targets

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

ASA Gold and Precious Metals Price Performance

The firm’s 50-day moving average is $58.93 and its 200-day moving average is $47.20.

Insider Activity at ASA Gold and Precious Metals

In other news, major shareholder Saba Capital Management, L.P. acquired 27,496 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average cost of $47.41 per share, with a total value of $1,303,585.36. Following the acquisition, the insider owned 5,241,324 shares in the company, valued at approximately $248,491,170.84. This represents a 0.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 376,706 shares of company stock worth $20,174,752. 1.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Almitas Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals in the 3rd quarter valued at $15,359,000. Landscape Capital Management L.L.C. bought a new stake in ASA Gold and Precious Metals in the third quarter worth $6,411,000. Blue Bell Private Wealth Management LLC boosted its position in ASA Gold and Precious Metals by 9.3% during the third quarter. Blue Bell Private Wealth Management LLC now owns 138,355 shares of the investment management company’s stock valued at $6,337,000 after buying an additional 11,808 shares during the period. Private Advisor Group LLC boosted its position in ASA Gold and Precious Metals by 3.2% during the third quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock valued at $3,854,000 after buying an additional 2,622 shares during the period. Finally, Noble Wealth Management PBC increased its holdings in shares of ASA Gold and Precious Metals by 61.7% in the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock worth $4,377,000 after buying an additional 27,987 shares during the period.

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.