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

Capricorn Metals Ltd (OTCMKTS:CRNLF) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 8,337 shares, a decrease of 74.4% from the September 30th total of 32,602 shares. Based on an average daily volume of 544 shares, the days-to-cover ratio is presently 15.3 days.

Capricorn Metals Stock Performance

Shares of OTCMKTS CRNLF opened at C$9.25 on Wednesday. The business has a 50-day moving average price of C$11.18 and a two-hundred day moving average price of C$9.79. Capricorn Metals has a one year low of C$6.57 and a one year high of C$13.75.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Capricorn Metals from a “neutral” rating to a “buy” rating and set a $18.40 price objective on the stock in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Capricorn Metals Company Profile

Capricorn Metals Limited is an Australian gold exploration, development and production company. Its principal asset is the Karlawinda Gold Project in the Pilbara region of Western Australia, where the company operates the Karlawinda gold mine and produces gold doré.

The Karlawinda project includes the Bibra open-pit mine, processing facilities and associated infrastructure. Capricorn Metals has advanced the project from exploration and development into commercial gold production, with its activities focused on mine operations, mineral processing, exploration and resource growth.

The company’s operations and exploration portfolio are concentrated in Western Australia, a major Australian mining jurisdiction.