ASX gold stock Catalyst Metals Ltd (ASX: CYL) closed at $8.62 per share, down 8% on Friday, but is up 158% over the past 12 months.
Catalyst Metals is a gold miner and explorer with an operational mine in Western Australia and a development project in Victoria.
Like all gold miners, Catalyst has benefitted from the remarkable rise in the gold price amid many tailwinds for the yellow metal.
Gold rallied 65% in 2025, following a 24% gain in 2024.
This week, the gold price went close to US$5,600 per ounce, and has risen by more than 20% in January alone.
Meantime, Catalyst Metals non-executive director, Robin Scrimgeour, has sold more than $10.8 million worth of shares since late November.
Between 20 and 23 January, an ASX disclosure shows Scrimgeour sold 1 million shares for which he is the beneficial owner, held indirectly through Citicorp Nominees (Australia) Limited.
The stock was sold on market for a total consideration of $9,222,935, indicating an average price of about $9.22.
Between 28 November and 2 December, Scrimgeour sold 250,000 Catalyst Metals shares on-market for consideration of $1,668,168.
That indicates an average price of $6.67.
Today, Scrimgeour holds 4 million shares in this ASX gold stock. However, his recent sales represent a near 25% reduction in holdings.
Catalyst Metals has not provided any explanation for the sales.
Image source: Getty Images
More about Catalyst Metals
Catalyst Metals owns the Plutonic gold mining operation in Western Australia and the Bendigo exploration project in Victoria.
Catalyst Metals expanded its Plutonic operations last year and is hoping to increase its reserves from 1.5 Moz to 2 Moz.
That is expected to allow it to increase its production rate from 100,000 ounces per year to 200,000 ounces per year.
On 15 January, Catalyst Metals released its 2Q FY26 update with news of record quarterly production at Plutonic.
Catalyst Metals reported gold production of 28,176 ounces.
The average realised price was A$2,776 per ounce and the average all-in sustaining cost (AISC) was A$2,565 per ounce.
Management retained its FY26 production guidance of 100,000 to 110,000 ounces at an AISC of between A$2,200 and A$2,650 per ounce.
Should you buy this ASX gold stock?
After the gold miner's 2Q FY26 report, Morgans retained its buy rating and increased its 12-month price target from $10.58 to $12.51.
Morgans commented:
We now forecast FY26 sales of 109koz at an AISC of A$2,539/oz and update our price deck to align with recent spot gold movements.We update our model for the result, reiterate our BUY rating and increase our price target to A$12.51ps (previously A$10.58ps).
Bell Potter also reiterated its buy rating on the ASX gold stock and raised its price target from $9.30 to $13.50.
Canaccord Genuity also has a buy rating on Catalyst Metals and increased its target from $13 to $13.25 this month.
