Capricorn Metals Ltd (OTCMKTS:CRNLF) Sees Large Drop in Short Interest

Capricorn Metals Ltd (OTCMKTS:CRNLF) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 11,954 shares, a decrease of 70.4% from the July 30th total of 40,452 shares. Based on an average daily volume of 316 shares, the days-to-cover ratio is currently 37.8 days.

Capricorn Metals Price Performance

Shares of Capricorn Metals stock opened at C$12.65 on Thursday. The firm has a 50-day moving average of C$9.95 and a 200-day moving average of C$9.38. Capricorn Metals has a 52-week low of C$6.57 and a 52-week high of C$13.00.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRNLF. The Goldman Sachs Group lowered shares of Capricorn Metals from a “buy” rating to a “neutral” rating and set a $16.90 price target on the stock. in a research note on Wednesday, June 3rd. UBS Group began coverage on shares of Capricorn Metals in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Capricorn Metals Company Profile

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.