Sandfire Resources Limited (OTCMKTS:SFRRF) Sees Large Drop in Short Interest

Sandfire Resources Limited (OTCMKTS:SFRRF) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 344,856 shares, a drop of 36.9% from the April 15th total of 546,812 shares. Based on an average daily volume of 100 shares, the short-interest ratio is currently 3,448.6 days.

Sandfire Resources Trading Down 3.1%

Sandfire Resources stock opened at $13.18 on Tuesday. The stock has a 50 day moving average of $12.12 and a 200-day moving average of $11.90. Sandfire Resources has a 52 week low of $7.00 and a 52 week high of $14.35.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “hold” rating on shares of Sandfire Resources in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

About Sandfire Resources

Sandfire Resources (OTCMKTS:SFRRF) is an Australian-based mining and exploration company focused on the discovery, development and production of high‐grade copper resources. The company’s core operations are anchored by the DeGrussa Copper‐Gold Mine in Western Australia, where open‐pit and underground mining techniques produce copper‐gold concentrate for regional smelters. In addition to DeGrussa, Sandfire Resources has advanced development projects and exploration assets in Botswana and North America, positioning itself as a diversified copper producer with a growing international footprint.

Sandfire’s principal business activities encompass project acquisition, feasibility studies, mine construction, and ongoing mine operations.