Polar Asset Management Partners Inc. Lowers Position in Namib Minerals $NAMM

Polar Asset Management Partners Inc. decreased its position in shares of Namib Minerals (NASDAQ:NAMM) by 56.0% during the first quarter, Holdings Channel.com reports. The firm owned 591,802 shares of the company’s stock after selling 754,199 shares during the period. Polar Asset Management Partners Inc.’s holdings in Namib Minerals were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lineage Point Capital LP purchased a new position in shares of Namib Minerals during the 4th quarter valued at approximately $130,000. Millennium Management LLC purchased a new stake in Namib Minerals during the third quarter worth $63,000. Finally, State of Wyoming acquired a new stake in Namib Minerals during the first quarter valued at $31,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

Namib Minerals Price Performance

Shares of NAMM stock opened at $1.43 on Tuesday. The company has a market cap of $77.33 million, a price-to-earnings ratio of -1.49 and a beta of -0.07. The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.22. Namib Minerals has a 1-year low of $0.91 and a 1-year high of $7.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Namib Minerals in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Namib Minerals Profile

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.