Polar Asset Management Partners Inc. Trims Stock Holdings in Namib Minerals $NAMM

Polar Asset Management Partners Inc. lowered its position in shares of Namib Minerals (NASDAQ:NAMM) by 56.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 591,802 shares of the company’s stock after selling 754,199 shares during the quarter. Polar Asset Management Partners Inc. owned about 1.09% of Namib Minerals worth $1,367,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NAMM. State of Wyoming purchased a new position in shares of Namib Minerals in the first quarter worth about $31,000. Millennium Management LLC purchased a new stake in Namib Minerals in the third quarter valued at approximately $63,000. Finally, Lineage Point Capital LP purchased a new stake in Namib Minerals in the fourth quarter valued at approximately $130,000. Hedge funds and other institutional investors own 59.54% of the company’s stock.

Namib Minerals Stock Performance

NASDAQ:NAMM opened at $1.43 on Tuesday. The firm’s fifty day moving average is $1.71 and its two-hundred day moving average is $2.22. The firm has a market cap of $77.33 million, a price-to-earnings ratio of -1.49 and a beta of -0.07. Namib Minerals has a one year low of $0.91 and a one year high of $7.42.

Wall Street Analyst Weigh In

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

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.