John D. Gibbs, a significant shareholder of Athena Gold Corp (OTC:AHNR), has recently increased his stake in the company. According to a recent SEC filing, Gibbs acquired 4 million shares of Athena Gold at a price of $0.036 per share, totaling $144,000. This acquisition boosts his direct ownership to over 35 million shares.
In addition to his direct holdings, Gibbs also maintains indirect ownership through entities such as Tri Power Resources and Redwood (NYSE:RWT) Microcap Fund. These holdings amount to over 6 million shares, further solidifying his substantial interest in the company.
The transaction, dated October 25, reflects Gibbs' continued confidence in Athena Gold's prospects. The company, listed on the OTC market under the ticker AHNR, is engaged in gold and silver ore exploration and development.
InvestingPro Insights
John D. Gibbs' recent acquisition of Athena Gold Corp (OTC:AHNR) shares aligns with several intriguing metrics and insights from InvestingPro. The company's stock has shown strong momentum, with a 23.1% return over the last month and an impressive 52.74% year-to-date price total return. This positive trend may have influenced Gibbs' decision to increase his stake.
InvestingPro data reveals that Athena Gold has a market capitalization of $7.16 million USD, positioning it as a microcap stock in the mining sector. The company's P/E ratio stands at 42.27, which is considered high. However, an InvestingPro Tip suggests that AHNR is trading at a low P/E ratio relative to its near-term earnings growth, indicating potential undervaluation.
Another InvestingPro Tip notes that the stock generally trades with high price volatility, which could explain the significant price movements observed. This volatility may present opportunities for investors like Gibbs who are willing to take on higher risk for potentially greater returns.
For readers interested in a deeper analysis, InvestingPro offers 7 additional tips for Athena Gold Corp, providing a more comprehensive view of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.