Namib Minerals (NASDAQ:NAMM – Get Free Report)’s stock price shot up 3.8% during mid-day trading on Wednesday . The company traded as high as $1.43 and last traded at $1.38. 514,358 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 493,720 shares. The stock had previously closed at $1.33.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered Namib Minerals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.
Check Out Our Latest Report on Namib Minerals
Namib Minerals Stock Up 0.4%
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in shares of Namib Minerals in the first quarter valued at approximately $31,000. Millennium Management LLC purchased a new stake in Namib Minerals in the 3rd quarter worth approximately $63,000. Lineage Point Capital LP purchased a new stake in Namib Minerals in the 4th quarter worth approximately $130,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in Namib Minerals by 14.8% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company’s stock valued at $4,428,000 after purchasing an additional 173,899 shares during the period. Institutional investors own 59.54% of the company’s stock.
About Namib Minerals
Namib Minerals Ltd, traded on the Nasdaq under the symbol NAMM, is a mineral exploration and development company focused on identifying and advancing critical mineral deposits in Namibia. The company’s primary business activities include geological surveying, core drilling programs and resource estimation to define lithium, tantalum and other battery-grade mineral targets. Namib Minerals aims to leverage Namibia’s stable mining jurisdiction to develop projects that support the growing demand for high-purity minerals in the global electric vehicle and energy storage markets.
Headquartered in Windhoek, Namibia, the company’s exploration portfolio lies within recognized mineral belts known for lithium and associated rare elements.
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