Namib Minerals (NASDAQ:NAMM) Issues Earnings Results

Namib Minerals (NASDAQ:NAMM) posted its quarterly earnings data on Wednesday. The company reported ($0.05) EPS for the quarter, reports. The business had revenue of $25.42 million for the quarter.

Namib Minerals Stock Down 4.6%

Namib Minerals stock opened at $0.96 on Thursday. The firm has a 50 day moving average price of $1.35 and a 200-day moving average price of $1.70. Namib Minerals has a twelve month low of $0.91 and a twelve month high of $7.42. The company has a market capitalization of $51.82 million, a P/E ratio of -1.00 and a beta of -0.03.

Institutional Trading of Namib Minerals

A hedge fund recently bought a new stake in Namib Minerals stock. State of Wyoming bought a new stake in Namib Minerals (NASDAQ:NAMM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,367 shares of the company’s stock, valued at approximately $31,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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 issued a Sell rating to the stock. According to MarketBeat.com, Namib Minerals currently has a consensus rating of “Reduce”.

About Namib Minerals

Namib Minerals Limited is a gold mining company focused on the acquisition, development and operation of gold assets in Zimbabwe. Its activities include mine development, mineral exploration, ore processing and gold production.

The company’s portfolio includes the How Mine, Mazowe Mine and Shamva Mine, which are located in Zimbabwe’s established gold-producing regions. Namib Minerals is focused on advancing and operating these assets while evaluating opportunities to expand its mineral resources and production base.

Namib Minerals is headquartered in Africa and serves the international gold market through its Zimbabwean mining operations.