ASA Gold and Precious Metals Limited(ASA)Earnings, Financials & Key Ratios

ASA•NYSE

$54.60

1.5× P/E·Price updated Jul 6, 2026

SectorFinancial Services IndustryAsset Management Sub-IndustryClosed-end funds and investment trusts

AboutASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds. The firm employs fundamental analysis with a bottom-up approach to create its portfolios. The firm obtains external research to complement its in-house research. ASA Gold and Precious Metals Limited was founded in 1958 and is based in Portland, Maine.Show more

EBITDA$664M+476.0%
Net Income$664M+476.0%
EPS (Diluted)35.35+483.3%
Gross Margin96.56%+1.7%
EBITDA Margin448.21%+162.3%
Operating Margin453.23%+165.0%
Net Margin448.21%+162.3%
ROE86.02%+190.6%

ASA Price & Volume

ASA Gold and Precious Metals Limited (ASA) stock price & volume — 10-year historical chart

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Marked Asset Appreciation Masks Underlying Cash Volatility

Investment Thesis • Updated 2025Q4

VerdictNeutral

Growth:Mixed

Profitability:Strained

Financial:Healthy

Cash Flow:Mixed

Primary Risk:NAV discount and volatility

Key Thesis Takeaways

ASA Gold and Precious Metals Limited functions as a pure-play investment vehicle whose valuation is tethered to the extreme volatility of global mining equities rather than recurring operational cash flows.
While the fund has successfully expanded its total assets to $1.1 billion as of 2025Q4, the reliance on unrealized mark-to-market gains creates significant earnings distortion.
Investors should monitor the persistent discount to Net Asset Value and the lack of transparent capital deployment, which may indicate structural challenges in converting portfolio appreciation into tangible shareholder returns.

Verdict Logic

while the fund has grown its equity base to $1.1 billion, the lack of cash flow generation and a forward P/E ratio of 1323.82 suggest that the current valuation may be overly sensitive to speculative market fluctuations.

ASA Growth Metrics

ASA Gold and Precious Metals Limited (ASA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years42.95%

5 Years32.21%

3 Years71.24%

TTM-

Profit CAGR

10 Years-

5 Years30.06%

3 Years-

TTM707.46%

EPS CAGR

10 Years-

5 Years30.75%

3 Years-

TTM600.33%

Return on Capital

10 Years19.12%

5 Years16.95%

3 Years39.77%

Last Year86.87%

ASA Recent Earnings

ASA Gold and Precious Metals Limited (ASA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

Q1 2026Latest

Jan 28, 2026

Metric

Actual

Est

EPS

$23.48

—

Rev

$134M

—

Q3 2025

Aug 31, 2025

Metric

Actual

Est

EPS

$6.81

—

Rev

$525,632

—

Q3 2025

Jul 25, 2025

Metric

Actual

Est

EPS

$7.48

—

Rev

$841,119

—

Q2 2025

Apr 25, 2025

Metric

Actual

Est

EPS

$4.32

—

Rev

$2M

—

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Jan 28, 2026	$23.48	$134M
Q3 2025	Aug 31, 2025	$6.81	$525,632
Q3 2025	Jul 25, 2025	$7.48	$841,119
Q2 2025	Apr 25, 2025	$4.32	$2M

Based on last 12 quarters of dataView full earnings history →

Latest ASA News

Recent stock market news and headlines for ASA Gold and Precious Metals Limited (ASA)

Business Wire·Jun 25, 2026

ASA Gold and Precious Metals Limited Announces the Appointment of Paul Kazarian as President and Principal Executive Officer; and the Establishment of an Investment Committee to Manage the Company's Portfolio Internally on an Interim Basis

PORTLAND, Maine--(BUSINESS WIRE)--ASA Gold and Precious Metals Limited (NYSE: ASA) (the “Company”), a registered closed-end management investment company listed on the New York Stock Exchange, today announced that Paul Kazarian has been appointed President and Principal Executive Officer (“PEO”) of the Company. Axel Merk and Peter Maletis no longer serve as officers of the Company. The Company also announced that, as the Special Committee of the Board of Directors continues its work evaluating.

Forbes·Jun 23, 2026

This Gold Fund Looks Like A Bargain. It Isn't

ASA Gold & Precious Metals Limited (ASA) is a standout among closed-end funds (CEFs), but not for the reasons we'd like!

GlobeNewsWire·Jun 18, 2026

Equinor ASA: Buy-back of shares to share programmes for employees

Please see below information about transactions made under the buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR) for shares to be used in the share-based incentive programmes for employees and management.

Seeking Alpha·Jun 16, 2026

Borregaard ASA (BRGAY) Discusses BioSolutions Outlook, Market Uncertainty, and Product Mix Ahead of Q2 Close Transcript

Peers Comparison

Key metrics vs top competitors for ASA Gold and Precious Metals Limited (ASA)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
ASAASA Gold and Precious Metals LimitedCurrent	$54.60	$1.03B	1.54	119.59%	448.21%	86.02%	—
NEMNewmont Corporation	$98.20	$108.81B	15.32	19.08%	30.54%	15.58%	—
AEMAgnico Eagle Mines Limited	$154.94	$77.48B	17.49	43.71%	39.46%	22.02%	—
WPMWheaton Precious Metals Corp.	$115.24	$52.33B	35.03	83.33%	65.55%	21.33%	—
FNVFranco-Nevada Corporation	$212.77	$41.02B	36.31	63.69%	65.12%	18.68%	—
KGCKinross Gold Corporation	$24.72	$29.6B	12.42	39.34%	36.04%	33.95%	—

Compare ASA vs Peers

ASA Gold and Precious Metals Limited (ASA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NEM

Most directly comparable listed peer for ASA.

Scale Benchmark

vs AEM

Larger-name benchmark to compare ASA against a more recognizable public peer.

Peer Set

Compare Top 5

vs NEM, AEM, WPM, FNV

ASA SEC Filings & Documents

ASA Gold and Precious Metals Limited (ASA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Aug 7, 2025·SEC

Material company update

Apr 1, 2025·SEC

Material company update

Mar 31, 2025·SEC

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ASA Frequently Asked Questions

ASA Gold and Precious Metals Limited (ASA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is ASA Gold and Precious Metals Limited's revenue?

ASA Gold and Precious Metals Limited (ASA) reported $150.7M in revenue for fiscal year 2025.

How fast is ASA Gold and Precious Metals Limited growing?

ASA Gold and Precious Metals Limited (ASA) grew revenue by 119.6% over the past year. This is strong growth.

Is ASA profitable?

Yes, ASA Gold and Precious Metals Limited (ASA) is profitable, generating $874.2M in net income for fiscal year 2025 (448.2% net margin).

Dividend & Returns

What is ASA's return on equity?

ASA Gold and Precious Metals Limited (ASA) has a return on equity (ROE) of 86.0%. This is excellent, indicating efficient use of shareholder capital.

What if you invested $1,000 in ASA back in 2006?

Total return calculator · dividends reinvested · 20+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q1 2026Latest

Jan 28, 2026

$23.48

$134M

Q3 2025

Aug 31, 2025

$6.81

$525,632

Q3 2025

Jul 25, 2025

$7.48

$841,119

Q2 2025

Apr 25, 2025

$4.32

$2M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

ASAASA Gold and Precious Metals LimitedCurrent

$54.60

$1.03B

1.54

119.59%

448.21%

86.02%

—

NEMNewmont Corporation

$98.20

$108.81B

15.32

19.08%

30.54%

15.58%

—

AEMAgnico Eagle Mines Limited

$154.94

$77.48B

17.49

43.71%

39.46%

22.02%

—

WPMWheaton Precious Metals Corp.

$115.24

$52.33B

35.03

83.33%

65.55%

21.33%

—

FNVFranco-Nevada Corporation

$212.77

$41.02B

36.31

63.69%

65.12%

18.68%

—

KGCKinross Gold Corporation

$24.72

$29.6B

12.42

39.34%

36.04%

33.95%

—