Magna Mining Inc. (OTCMKTS:MGMNF) Sees Significant Drop in Short Interest

Magna Mining Inc. (OTCMKTS:MGMNF) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 171,000 shares, a drop of 18.0% from the November 30th total of 208,600 shares. Based on an average daily volume of 108,300 shares, the short-interest ratio is currently 1.6 days.

Magna Mining Stock Performance

Magna Mining stock traded down $0.02 during midday trading on Tuesday, reaching $0.93. The stock had a trading volume of 8,401 shares, compared to its average volume of 40,564. Magna Mining has a 52-week low of $0.28 and a 52-week high of $1.21. The company has a fifty day moving average of $0.99 and a 200 day moving average of $0.76.

Magna Mining Company Profile

Magna Mining Inc engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for nickel, copper, and platinum group metal deposits. Its flagship property is 100% owned the Shakespeare Mine consisting of 29 patented claims, 3 leased claims, and 787 mining claims covering an area of 18074.94 hectares located in Sudbury, Canada.