Gold prices fall as geopolitical tensions ease; U.S. CPI looms
Camac Capital, LLC, alongside its affiliated entities, reported purchasing shares of Gold Reserve Ltd (OTC:GDRZF) valued at approximately $3.68 million. The transactions, disclosed in a recent SEC filing, occurred over several days with varying prices per share, ranging from $2.0747 to $1856.0. The timing is notable as InvestingPro data shows the stock has declined about 15% in the past week, with current market capitalization standing at $229 million.
The acquisitions were made by entities including Camac Fund, LP and Camac Fund II, LP, both of which are managed by Camac Capital, LLC. Eric Shahinian, who oversees Camac Capital, signed the filing. These purchases reflect the firm’s ongoing interest in Gold Reserve Ltd, a company engaged in gold and silver ore mining. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 6.36 and holds more cash than debt on its balance sheet, though it remains unprofitable over the last twelve months.
Following these transactions, Camac Capital and its affiliates now hold a significant stake in Gold Reserve, with over 10.5 million shares owned directly. The purchases highlight the firm’s strategic investment approach in the precious metals sector. Trading at 3.4 times book value, InvestingPro analysis suggests the stock is currently overvalued based on its Fair Value model. Subscribers can access 5 additional ProTips and comprehensive financial metrics to better understand this investment.
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