Capricorn Metals Ltd (OTCMKTS:CRNLF) Sees Significant Growth in Short Interest

Capricorn Metals Ltd (OTCMKTS:CRNLF) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 122,235 shares, a growth of 922.5% from the August 15th total of 11,954 shares. Based on an average trading volume of 881 shares, the days-to-cover ratio is presently 138.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group started coverage on shares of Capricorn Metals in a report on Friday, June 26th. They issued a “buy” rating and a $17.00 target price for the company. The Goldman Sachs Group downgraded shares of Capricorn Metals from a “buy” rating to a “neutral” rating and set a $16.90 price objective 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 issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Capricorn Metals Stock Performance

CRNLF remained flat at C$11.27 on Thursday. The company’s stock had a trading volume of 356 shares, compared to its average volume of 953. The firm’s fifty day moving average is C$10.59 and its 200-day moving average is C$9.56. 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.