Namib Minerals (NASDAQ:NAMM) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Namib Minerals (NASDAQ:NAMM) from a sell rating to a hold rating in a report released on Saturday.

Several other analysts have also recently commented on the company. Zacks Research upgraded Namib Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Namib Minerals in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Namib Minerals currently has a consensus rating of “Reduce”.

Namib Minerals Price Performance

NASDAQ NAMM opened at $2.63 on Friday. The company has a market cap of $141.17 million, a price-to-earnings ratio of -2.07 and a beta of -0.02. The company has a 50-day moving average of $1.96. Namib Minerals has a 12 month low of $0.91 and a 12 month high of $55.00.

Institutional Trading of Namib Minerals

A hedge fund recently bought a new stake in Namib Minerals stock. Millennium Management LLC bought a new stake in shares of Namib Minerals (NASDAQ:NAMM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 19,246 shares of the company’s stock, valued at approximately $63,000. Institutional investors own 59.54% of the company’s stock.

Namib Minerals Company 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.