Midway Gold Corp. Sees Significant Growth in Short Interest (MDW)
Midway Gold Corp. (NYSE:MDW) was the target of a large growth in short interest during the month of May. As of May 30th, there was short interest totalling 5,889,102 shares, a growth of 2.7% from the May 15th total of 5,732,712 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 693,501 shares, the short-interest ratio is presently 8.5 days. Approximately 5.6% of the company’s shares are short sold.
In other Midway Gold Corp. news, CEO Kenneth Arnold Brunk bought 120,482 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average cost of $0.83 per share, for a total transaction of $100,000.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MDW shares. Analysts at Canaccord Genuity reiterated a “speculative buy” rating on shares of Midway Gold Corp. in a research note on Friday, May 23rd. They now have a C$1.35 price target on the stock. Separately, analysts at Pi Financial raised their price target on shares of Midway Gold Corp. from C$1.60 to C$1.75 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock. Finally, analysts at Haywood Securities reiterated a “buy” rating on shares of Midway Gold Corp. in a research note on Friday, May 23rd. They now have a C$1.50 price target on the stock.
Midway Gold Corp. (NYSE:MDW) traded up 0.61% on Tuesday, hitting $0.83. The stock had a trading volume of 720,910 shares. Midway Gold Corp. has a 52-week low of $0.72 and a 52-week high of $1.44. The stock has a 50-day moving average of $0.84 and a 200-day moving average of $0.97. The company’s market cap is $111.3 million.
Midway Gold Corp. (NYSE:MDW) is a development-stage company engaged in the acquisition, exploration and development of gold and silver mineral properties in North America.
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