Capricorn Metals Ltd (OTCMKTS:CRNLF) Sees Large Decline in Short Interest

Capricorn Metals Ltd (OTCMKTS:CRNLF) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 11,954 shares, a decrease of 70.4% from the July 30th total of 40,452 shares. Based on an average trading volume of 316 shares, the days-to-cover ratio is presently 37.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group initiated coverage on Capricorn Metals in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 target price for the company. The Goldman Sachs Group lowered shares of Capricorn Metals from a “buy” rating to a “neutral” rating and set a $16.90 price target on the stock. in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Capricorn Metals presently has an average rating of “Moderate Buy”.

Capricorn Metals Stock Up 4.7%

CRNLF opened at C$13.25 on Friday. The stock’s 50 day moving average price is C$10.02 and its two-hundred day moving average price is C$9.41. Capricorn Metals has a 12-month low of C$6.57 and a 12-month high of C$13.75.

About Capricorn Metals

Capricorn Metals (OTCMKTS:CRNLF) is an Australian gold exploration and production company focused on the development of its flagship Karlawinda gold project in the Pilbara region of Western Australia. The company holds a 100% interest in the Karlawinda tenements, which cover prospective ground surrounding the main deposit. Karlawinda achieved first gold pour in March 2020 and produces gold dore bars for sale to regional refineries, marking Capricorn’s transition from explorer to producer.

Beyond Karlawinda, Capricorn Metals maintains a portfolio of exploration tenements across Western Australia.