ASA Gold and Precious Metals (NYSE:ASA) Sets New 1-Year High – Should You Buy?

ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.39 and last traded at $66.20, with a volume of 16350 shares traded. The stock had previously closed at $63.46.

Wall Street Analysts Forecast Growth

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

ASA Gold and Precious Metals Price Performance

The stock’s 50 day moving average price is $56.20 and its 200-day moving average price is $45.55.

Insider Transactions at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. acquired 5,000 shares of ASA Gold and Precious Metals stock in a transaction dated Wednesday, January 14th. The shares were purchased at an average price of $63.82 per share, for a total transaction of $319,100.00. Following the completion of the transaction, the insider directly owned 5,452,444 shares in the company, valued at approximately $347,974,976.08. This represents a 0.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 474,910 shares of company stock worth $24,327,534. Company insiders own 1.69% of the company’s stock.

Institutional Trading of ASA Gold and Precious Metals

Several hedge funds have recently bought and sold shares of ASA. Almitas Capital LLC bought a new position in shares of ASA Gold and Precious Metals during the 3rd quarter valued at about $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. Wolverine Asset Management LLC purchased a new stake in ASA Gold and Precious Metals during the second quarter valued at $1,213,000. Laurel Wealth Advisors LLC lifted its position in ASA Gold and Precious Metals by 3,057.0% during the second quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company’s stock valued at $1,000,000 after purchasing an additional 30,570 shares during the last quarter. Finally, Noble Wealth Management PBC lifted its position in ASA Gold and Precious Metals by 61.7% during the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock valued at $4,377,000 after purchasing an additional 27,987 shares during the last quarter.

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.