Sandfire Resources America Inc. (OTCMKTS:SRAFF – Get Rating) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,000 shares, a decline of 90.6% from the March 15th total of 10,600 shares. Based on an average daily volume of 54,200 shares, the days-to-cover ratio is currently 0.0 days.
Shares of OTCMKTS:SRAFF traded up $0.02 during midday trading on Wednesday, reaching $0.15. The company had a trading volume of 651,145 shares, compared to its average volume of 51,686. The stock’s fifty day moving average price is $0.16 and its 200-day moving average price is $0.16. Sandfire Resources America has a one year low of $0.11 and a one year high of $0.21.
A number of brokerages have issued reports on SRAFF. The Goldman Sachs Group downgraded Sandfire Resources America from a “neutral” rating to a “sell” rating in a report on Wednesday, January 12th. JPMorgan Chase & Co. lowered Sandfire Resources America from a “neutral” rating to an “underweight” rating in a research note on Thursday, January 20th.
Sandfire Resources America Inc acquires, explores for, and develops resource properties in the United States and Canada. The company explores for copper, cobalt, zinc, lead, and silver deposits. Its flagship property is the Black Butte copper project that consists of approximately 7,684 acres of fee-simple lands and 4,541 acres in 239 Federal unpatented lode-mining claims located in central Montana, the United States.
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