Short Interest in Silver Bow Mining Corp. (NYSEAMERICAN:SBMT) Increases By 93.3%

Silver Bow Mining Corp. (NYSEAMERICAN:SBMT) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 70,026 shares, a growth of 93.3% from the May 31st total of 36,226 shares. Based on an average daily volume of 115,772 shares, the short-interest ratio is presently 0.6 days.

Insider Activity

In other news, CEO Charles Travis Naugle acquired 5,000 shares of Silver Bow Mining stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average price of $9.88 per share, with a total value of $49,400.00. Following the completion of the purchase, the chief executive officer owned 105,000 shares of the company’s stock, valued at approximately $1,037,400. This represents a 5.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Wade Newton Black bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $8.50 per share, for a total transaction of $42,500.00. Following the transaction, the chief financial officer owned 7,500 shares of the company’s stock, valued at $63,750. The trade was a 200.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 20,010 shares of company stock worth $184,461 over the last ninety days.

Silver Bow Mining Stock Performance

Silver Bow Mining stock remained flat at $7.76 during trading on Friday. 109,296 shares of the company were exchanged, compared to its average volume of 188,707. Silver Bow Mining has a 52-week low of $5.75 and a 52-week high of $11.23. The firm has a 50-day simple moving average of $8.72.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald assumed coverage on Silver Bow Mining in a report on Thursday, May 28th. They issued a “speculative buy” rating and a $19.80 price target for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $19.80.

About Silver Bow Mining

Silver Bow Mining Corporation (NYSE American: SBMT) is a mineral exploration and development company focused on acquiring, exploring and advancing mineral properties. The company concentrates on precious and base metals, with an emphasis on commodities commonly produced by hard-rock mining such as copper, silver and gold. Its activities encompass early-stage exploration through the definition and development of mineral resources.

Silver Bow’s work typically includes geological exploration, drilling programs, resource modeling and advancing projects through technical studies and permitting processes necessary for development.