Western Areas Limited (OTCMKTS:WNARF) saw a significant growth in short interest in the month of May. As of May 28th, there was short interest totalling 4,500 shares, a growth of 2,150.0% from the May 13th total of 200 shares. Based on an average daily trading volume, of 6,500 shares, the days-to-cover ratio is presently 0.7 days.
Several equities research analysts have recently commented on WNARF shares. Canaccord Genuity upgraded Western Areas from a “hold” rating to a “buy” rating in a research note on Tuesday, April 20th. Credit Suisse Group downgraded Western Areas from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 13th.
Shares of OTCMKTS WNARF traded up $0.05 during midday trading on Friday, reaching $1.95. The stock had a trading volume of 7,393 shares, compared to its average volume of 27,035. Western Areas has a 12-month low of $1.25 and a 12-month high of $2.43. The business’s 50-day simple moving average is $1.81.
Western Areas Limited mines for, processes, and sells nickel sulphide concentrates and other base metals in Australia. It holds a 100% interest in the Forrestania project located in Western Australia. Western Areas Limited was founded in 1999 and is based in West Perth, Australia.
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