Namib Minerals (NASDAQ:NAMM) Trading 2.2% Higher – Time to Buy?

Namib Minerals (NASDAQ:NAMM) shares traded up 2.2% on Wednesday . The company traded as high as $1.43 and last traded at $1.40. 325,816 shares changed hands during trading, a decline of 30% from the average session volume of 464,356 shares. The stock had previously closed at $1.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Namib Minerals from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Zacks Research upgraded Namib Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Namib Minerals in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Namib Minerals Stock Up 4.4%

The firm has a 50 day moving average price of $2.04 and a 200 day moving average price of $2.08.

Institutional Investors Weigh In On Namib Minerals

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Namib Minerals in the 1st quarter worth $31,000. Millennium Management LLC bought a new position in Namib Minerals in the 3rd quarter worth $63,000. Lineage Point Capital LP bought a new position in Namib Minerals in the 4th quarter worth $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 worth $4,428,000 after buying an additional 173,899 shares during the period. 59.54% of the stock is currently owned by hedge funds and other institutional investors.

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.