ASA Gold and Precious Metals (NYSE:ASA) Earns Buy (B+) Rating from Weiss Ratings

ASA Gold and Precious Metals (NYSE:ASA)‘s stock had its “buy (b+)” rating reiterated by analysts at Weiss Ratings in a research note issued on Thursday,Weiss Ratings reports.

ASA Gold and Precious Metals Trading Down 0.8%

NYSE ASA opened at $46.19 on Thursday. ASA Gold and Precious Metals has a 12-month low of $19.37 and a 12-month high of $53.76. The firm’s 50 day moving average is $43.69 and its 200-day moving average is $36.11.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 354,169 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $35.39 per share, for a total transaction of $12,534,040.91. Following the completion of the acquisition, the insider owned 4,040,715 shares in the company, valued at approximately $143,000,903.85. This represents a 9.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 1,691,894 shares of company stock worth $66,226,015 in the last 90 days. 1.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in ASA Gold and Precious Metals during the second quarter worth $231,000. Atria Wealth Solutions Inc. acquired a new position in ASA Gold and Precious Metals during the first quarter worth $235,000. Cetera Investment Advisers increased its holdings in ASA Gold and Precious Metals by 223.9% during the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company’s stock worth $5,692,000 after buying an additional 130,547 shares during the last quarter. Private Advisor Group LLC increased its holdings in ASA Gold and Precious Metals by 57.7% during the first quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company’s stock worth $2,473,000 after buying an additional 30,024 shares during the last quarter. Finally, Sessa Capital IM L.P. increased its holdings in ASA Gold and Precious Metals by 56.3% during 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 buying an additional 378,327 shares during 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.