Austin Gold (NYSE:AUST) Stock Falls 0.7% – Here’s What Happened

Shares of Austin Gold Corp. (NYSE:AUST) dropped 0.7% during trading on Thursday. The company traded as low as $0.9650 and last traded at $0.9730. Approximately 16,815 shares were traded during mid-day trading, a decline of 97% from the average session volume of 551,247 shares. The stock had previously closed at $0.98.

Austin Gold Stock Performance

The company’s 50-day moving average price is $1.16 and its two-hundred day moving average price is $1.23. The stock has a market cap of $13.42 million, a PE ratio of -3.16 and a beta of 0.99.

Hedge Funds Weigh In On Austin Gold

An institutional investor recently raised its position in Austin Gold stock. Peak Financial Management Inc. boosted its position in Austin Gold Corp. (NYSE:AUST) by 40.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the company’s stock after buying an additional 8,000 shares during the quarter. Peak Financial Management Inc. owned approximately 0.20% of Austin Gold worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 62.08% of the stock is currently owned by institutional investors and hedge funds.

Austin Gold Company Profile

Austin Gold Corp. (NYSE:AUST) is a mineral exploration company focused on the discovery and development of gold deposits in the United States. The company’s activities include acquiring, evaluating and advancing exploration properties, with an emphasis on projects in Nevada, one of the world’s major gold-producing regions.

Austin Gold’s portfolio consists of prospective exploration properties that are being assessed through geological studies, mapping, geochemical work, geophysical surveys and drilling.