Short Interest in Sandfire Resources Limited (OTCMKTS:SFRRF) Decreases By 62.4%

Sandfire Resources Limited (OTCMKTS:SFRRF) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 91,285 shares, a decline of 62.4% from the August 15th total of 242,822 shares. Based on an average daily volume of 10 shares, the days-to-cover ratio is currently 9,128.5 days.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada lowered Sandfire Resources to a “sector perform” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sandfire Resources Trading Down 6.2%

OTCMKTS:SFRRF traded down $1.03 during trading hours on Friday, reaching $15.47. The company had a trading volume of 200 shares, compared to its average volume of 4,550. Sandfire Resources has a twelve month low of $8.25 and a twelve month high of $16.50. The business’s 50-day simple moving average is $15.07 and its two-hundred day simple moving average is $13.50.

About Sandfire Resources

Sandfire Resources (OTCMKTS:SFRRF) is an Australian-based mining and exploration company focused on the discovery, development and production of high?grade copper resources. The company’s core operations are anchored by the DeGrussa Copper?Gold Mine in Western Australia, where open?pit and underground mining techniques produce copper?gold concentrate for regional smelters. In addition to DeGrussa, Sandfire Resources has advanced development projects and exploration assets in Botswana and North America, positioning itself as a diversified copper producer with a growing international footprint.

Sandfire’s principal business activities encompass project acquisition, feasibility studies, mine construction, and ongoing mine operations.