Short Interest in Mineral Resources Limited (OTCMKTS:MALRF) Expands By 27.7%

Mineral Resources Limited (OTCMKTS:MALRFGet Rating) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 236,200 shares, a growth of 27.7% from the April 15th total of 185,000 shares. Based on an average daily volume of 800 shares, the short-interest ratio is presently 295.3 days.

Shares of Mineral Resources stock traded down $0.02 on Tuesday, reaching $37.75. 240 shares of the company traded hands, compared to its average volume of 889. Mineral Resources has a 52 week low of $27.13 and a 52 week high of $48.27. The company has a 50 day moving average of $39.26 and a 200 day moving average of $36.83.

A number of brokerages have issued reports on MALRF. The Goldman Sachs Group raised shares of Mineral Resources from a “neutral” rating to a “buy” rating in a research report on Monday, April 11th. JPMorgan Chase & Co. raised shares of Mineral Resources from an “underweight” rating to a “neutral” rating in a research report on Tuesday, April 5th. Finally, Morgan Stanley raised shares of Mineral Resources to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, March 28th.

About Mineral Resources (Get Rating)

Mineral Resources Limited, together with subsidiaries, operates as a mining services and processing company in Australia, China, and Singapore. It operates through three segments: Mining Services, Commodities, and Central. The company offers contract crushing, screening, processing, and specialist mining services; mine services, including materials handling, plant and equipment hire, plant and equipment maintenance, tails recovery, and aggregate crushing; and design, engineering, and construction services in the resources sector.

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