Namib Minerals (NASDAQ:NAMM) Stock Short Interest Climbs 63.9%

Namib Minerals (NASDAQ:NAMM) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 142,797 shares, an increase of 63.9% from the August 31st total of 87,146 shares. Based on an average daily trading volume, of 385,948 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Namib Minerals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Namib Minerals

A hedge fund recently bought a new stake in Namib Minerals stock. State of Wyoming purchased a new position in Namib Minerals (NASDAQ:NAMM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,367 shares of the company’s stock, valued at approximately $31,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

Namib Minerals Trading Up 35.7%

NASDAQ:NAMM traded up $0.34 during trading hours on Thursday, hitting $1.30. 26,799,075 shares of the stock traded hands, compared to its average volume of 3,885,235. The firm has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.70. Namib Minerals has a fifty-two week low of $0.91 and a fifty-two week high of $7.42. The firm has a market cap of $70.30 million, a price-to-earnings ratio of -1.35 and a beta of -0.03.

Namib Minerals (NASDAQ:NAMM) last posted its quarterly earnings results on Wednesday, September 30th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $25.42 million for the quarter.

Namib Minerals Company Profile

Namib Minerals Limited is a gold mining company focused on the acquisition, development and operation of gold assets in Zimbabwe. Its activities include mine development, mineral exploration, ore processing and gold production.

The company’s portfolio includes the How Mine, Mazowe Mine and Shamva Mine, which are located in Zimbabwe’s established gold-producing regions. Namib Minerals is focused on advancing and operating these assets while evaluating opportunities to expand its mineral resources and production base.

Namib Minerals is headquartered in Africa and serves the international gold market through its Zimbabwean mining operations.