Evolution Mining Limited (OTCMKTS:CAHPF) Sees Large Growth in Short Interest

Evolution Mining Limited (OTCMKTS:CAHPF) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 2,909,174 shares, an increase of 345.0% from the June 15th total of 653,774 shares. Based on an average daily volume of 6,332 shares, the short-interest ratio is presently 459.4 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Evolution Mining from a “neutral” rating to a “neutral” rating and set a $12.70 target price for the company in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Evolution Mining currently has a consensus rating of “Reduce” and a consensus target price of $12.70.

Evolution Mining Stock Performance

Shares of Evolution Mining stock remained flat at $7.82 on Friday. Evolution Mining has a 12-month low of $4.36 and a 12-month high of $12.70. The stock’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $9.32.

Evolution Mining Company Profile

Evolution Mining is an Australia-based gold and copper producer with its corporate headquarters in Sydney. Listed on the Australian Securities Exchange and trading in the United States on the OTC market as CAHPF, the company focuses on the discovery, development, extraction and processing of mineral resources. Evolution’s integrated operations encompass all stages of the mining value chain, from exploration and project acquisition to production, processing and marketing of precious metals and copper concentrates.

The company’s asset portfolio spans multiple jurisdictions across Australia and North America.