Austin Gold (NYSE:AUST) Shares Up 7.6% – Here’s What Happened

Austin Gold Corp. (NYSE:AUST) shot up 7.6% on Wednesday . The stock traded as high as $1.91 and last traded at $1.87. 249,755 shares changed hands during mid-day trading, an increase of 135% from the average session volume of 106,310 shares. The stock had previously closed at $1.74.

Austin Gold Trading Up 7.6%

The firm has a market capitalization of $24.82 million, a price-to-earnings ratio of -6.03 and a beta of 0.84. The firm has a 50 day moving average price of $1.54 and a two-hundred day moving average price of $1.42.

Hedge Funds Weigh In On Austin Gold

A hedge fund recently bought a new stake in Austin Gold stock. Peak Financial Management Inc. purchased a new position in shares of Austin Gold Corp. (NYSE:AUST) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,000 shares of the company’s stock, valued at approximately $31,000. Peak Financial Management Inc. owned approximately 0.18% of Austin Gold as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 62.08% of the company’s stock.

About Austin Gold

Austin Gold Corp., a gold exploration company, focuses on the acquisition, exploration, and evaluation of mineral property interests in Nevada. The company holds interest in Kelly Creek Project located in the Kelly Creek Basin, in southeastern Humboldt County, Nevada; Fourmile Basin Project that comprises various unpatented lode mining claims covering approximately 6410 acres located in Nye County; the Lone Mountain Project consisting of various unpatented lode mining and patented mining claims located near Lone Mountain in Elko County.