Northern Star Resources Limited (OTCMKTS:NESRF) Sees Large Increase in Short Interest

Northern Star Resources Limited (OTCMKTS:NESRF) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,626,515 shares, an increase of 77.2% from the July 30th total of 918,046 shares. Based on an average daily volume of 11,920 shares, the short-interest ratio is presently 136.5 days. Approximately 0.1% of the company’s shares are sold short.

Northern Star Resources Stock Performance

NESRF traded down $0.55 on Tuesday, hitting $16.50. The company had a trading volume of 5,007 shares, compared to its average volume of 25,788. The stock has a fifty day simple moving average of $14.96 and a 200-day simple moving average of $15.77. Northern Star Resources has a 52-week low of $11.30 and a 52-week high of $22.99.

Analyst Ratings Changes

Separately, Zacks Research cut Northern Star Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

About Northern Star Resources

Northern Star Resources (OTCMKTS:NESRF) is an Australian-based gold mining company engaged in the exploration, development, and production of gold through a portfolio of underground and open-pit operations. Headquartered in West Perth, Western Australia, the company focuses on the efficient delivery of ore to onsite processing facilities, employing both conventional and modern mining techniques to optimize recovery and manage operating costs.

The company’s principal operations are located across key gold provinces in Western Australia, including the Kalgoorlie, Kambalda and Jundee regions, as well as the Pogo mine in Alaska, which Northern Star acquired in 2018.