Rubicon Minerals Corp. Sees Significant Decline in Short Interest (RBY)
Shares of Rubicon Minerals Corp. (NYSE:RBY) were the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 1,151,807 shares, a decline of 36.0% from the June 30th total of 1,800,007 shares, American Banking & Market News reports. Based on an average daily volume of 795,085 shares, the short-interest ratio is currently 1.4 days. Currently, 0.3% of the company’s stock are sold short.
A number of research firms have recently commented on RBY. Analysts at National Bank Financial reiterated an “outperform” rating on shares of Rubicon Minerals Corp. in a research note on Friday. Separately, analysts at TD Securities raised their price target on shares of Rubicon Minerals Corp. from C$2.00 to C$2.25 in a research note on Friday. They now have a “speculative buy” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of Rubicon Minerals Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Rubicon Minerals Corp. presently has a consensus rating of “Hold” and an average target price of $2.28.
Rubicon Minerals Corp. (NYSE:RBY) traded up 4.83% on Monday, hitting $1.52. 402,162 shares of the company’s stock traded hands. Rubicon Minerals Corp. has a one year low of $0.65 and a one year high of $1.90. The stock’s 50-day moving average is $1.39 and its 200-day moving average is $1.22. The company’s market cap is $551.9 million.
Rubicon Minerals Corporation (NYSE:RBY) is a mineral exploration company engaged in the acquisition, exploration and development of gold and base-metal exploration properties both through Company funded and partner-funded exploration.
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