Newcrest Mining Limited (OTCMKTS:NCMGF) Sees Large Decline in Short Interest

Newcrest Mining Limited (OTCMKTS:NCMGFGet Rating) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,764,700 shares, a decline of 52.5% from the March 15th total of 3,712,100 shares. Based on an average daily trading volume, of 558,900 shares, the days-to-cover ratio is currently 3.2 days.

Shares of OTCMKTS:NCMGF opened at $20.91 on Thursday. Newcrest Mining has a 1 year low of $14.81 and a 1 year high of $22.70. The stock has a 50-day simple moving average of $18.84 and a 200-day simple moving average of $17.96.

Separately, UBS Group cut Newcrest Mining to a “hold” rating and set a $27.10 price target for the company. in a report on Monday, March 28th.

About Newcrest Mining (Get Rating)

Newcrest Mining Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and gold/copper concentrates. It is also involved in the exploration and production of silver deposits. The company primarily owns and operates mines and projects located in Cadia, Telfer, and Havieron, Australia; Lihir and Wafi-Golpu, Papua New Guinea; Red Chris in British Columbia, Canada; and Fruta Del Norte, Ecuador.

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