Namib Minerals (NASDAQ:NAMM) Raised to “Hold” at Wall Street Zen

Namib Minerals (NASDAQ:NAMM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

NAMM has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, January 22nd. Zacks Research upgraded Namib Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Namib Minerals Stock Up 17.4%

Namib Minerals stock opened at $2.63 on Friday. The company has a market capitalization of $141.18 million, a P/E ratio of -2.07 and a beta of -0.02. The company’s 50 day moving average is $1.96. Namib Minerals has a fifty-two week low of $0.91 and a fifty-two week high of $55.00.

Institutional Investors Weigh In On Namib Minerals

An institutional investor recently bought a new position in Namib Minerals stock. Millennium Management LLC bought a new stake in Namib Minerals (NASDAQ:NAMM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 19,246 shares of the company’s stock, valued at approximately $63,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

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.