Chilwa Minerals Limited (NASDAQ:CHWM) Sees Significant Increase in Short Interest

Chilwa Minerals Limited (NASDAQ:CHWM) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 6,051 shares, an increase of 404.3% from the October 15th total of 1,200 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 16,570 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

Several brokerages have recently commented on CHWM. Wall Street Zen raised shares of Chilwa Minerals to a “hold” rating in a research report on Saturday, October 10th. Maxim Group initiated coverage on shares of Chilwa Minerals in a research note on Wednesday, October 21st. They set a “buy” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Chilwa Minerals currently has a consensus rating of “Buy” and an average target price of $11.00.

Chilwa Minerals Stock Performance

CHWM opened at $3.82 on Wednesday. Chilwa Minerals has a 52-week low of $3.60 and a 52-week high of $7.08.

About Chilwa Minerals

Chilwa Minerals is a mineral exploration company focused on mineral-sands and rare-earth opportunities in Malawi. Its principal project is the Lake Chilwa Project in the country’s south, where the company is exploring for heavy mineral sands and rare-earth-bearing minerals. Chilwa Minerals is at the exploration stage; it is seeking to assess the mineral potential of its Malawi projects rather than producing or selling minerals. Its activities include evaluating deposits that may contain minerals such as ilmenite, rutile, zircon and monazite.