Capricorn Metals Ltd (OTCMKTS:CRNLF) Sees Large Drop in Short Interest

Capricorn Metals Ltd (OTCMKTS:CRNLF) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 11,954 shares, a drop of 70.4% from the July 30th total of 40,452 shares. Based on an average trading volume of 316 shares, the short-interest ratio is currently 37.8 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRNLF. UBS Group assumed coverage on Capricorn Metals in a research report on Friday, June 26th. They set a “buy” rating and a $17.00 target price for the company. The Goldman Sachs Group cut Capricorn Metals from a “buy” rating to a “neutral” rating and set a $16.90 price target on the stock. in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Capricorn Metals Trading Down 1.9%

OTCMKTS CRNLF opened at C$12.65 on Thursday. The firm’s 50 day simple moving average is C$9.95 and its 200 day simple moving average is C$9.38. Capricorn Metals has a 1 year low of C$6.57 and a 1 year high of C$13.00.

About Capricorn Metals

Capricorn Metals (OTCMKTS:CRNLF) is an Australian gold exploration and production company focused on the development of its flagship Karlawinda gold project in the Pilbara region of Western Australia. The company holds a 100% interest in the Karlawinda tenements, which cover prospective ground surrounding the main deposit. Karlawinda achieved first gold pour in March 2020 and produces gold dore bars for sale to regional refineries, marking Capricorn’s transition from explorer to producer.

Beyond Karlawinda, Capricorn Metals maintains a portfolio of exploration tenements across Western Australia.