American Bonanza Gold Corp ABGFF

Sprott Asset Management Takes BZA Position

[runningman]

Eric Sprott’s Sprott Asset Management Initiated a Brand New Position in $TSX-BZA

Eric Sprott’s Sprott Asset Management initiated a brand new position in American Bonanza Gold Corp (TSX-BZA). According to the firm’s 13G filing on October 7th, Sprott Asset Management now has 24.91 million shares in TSX-BZA, giving a 12.7% passive stake in the stock. Before the third quarter, no hedge fund in our tracking list had ever reported a position in TSX-BZA. The stock had a mixed path before September, but it suddenly hit its multiyear stock price high on September 6th without any direct news related. Since TSX-BZA’s daily trading volume is only a few hundreds of thousand for most of the time, it’s possible that Sprott Asset Management made the purchase throughout the entire third quarter to reach its current holding. The stock is now trading at
.48, representing a 37% year to date return. (more…)

https://www.insidermonkey.com/blog/tag/american-bonanza-gold-corp-tsx-bza/