African Rainbow Minerals Limited (OTCMKTS:AFBOF) Sees Significant Drop in Short Interest

African Rainbow Minerals Limited (OTCMKTS:AFBOF) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 42,100 shares, a decrease of 37.4% from the March 15th total of 67,200 shares. Based on an average trading volume of 100 shares, the days-to-cover ratio is currently 421.0 days.

African Rainbow Minerals Stock Performance

Shares of AFBOF opened at $7.97 on Friday. The business’s fifty day simple moving average is $8.43 and its two-hundred day simple moving average is $9.13. African Rainbow Minerals has a 12 month low of $7.97 and a 12 month high of $12.60.

About African Rainbow Minerals

African Rainbow Minerals Limited, through its subsidiaries, operates as a diversified mining and minerals company in South Africa and Malaysia. It explores for platinum group metals, nickel, coal, iron ore, manganese ore, and chrome ore, as well as gold. African Rainbow Minerals Limited was founded in 1933 and is based in Sandton, South Africa.