Arizona Sonoran Copper Company Inc. (OTCMKTS:ASCUF) Sees Large Drop in Short Interest

Arizona Sonoran Copper Company Inc. (OTCMKTS:ASCUF) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 652,493 shares, a decline of 68.1% from the April 30th total of 2,044,651 shares. Based on an average daily volume of 249,363 shares, the days-to-cover ratio is presently 2.6 days.

Arizona Sonoran Copper Stock Performance

OTCMKTS ASCUF opened at $7.01 on Monday. The stock’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $4.55. Arizona Sonoran Copper has a 52 week low of $1.46 and a 52 week high of $7.01.

Analyst Upgrades and Downgrades

Separately, Scotiabank reiterated an “outperform” rating on shares of Arizona Sonoran Copper in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

About Arizona Sonoran Copper

Arizona Sonoran Copper Company Inc engages in the identification, acquisition, exploration, development, and production of base metal properties. It primarily explores for copper. The company’s principal asset is the 100% owned Cactus Mine Project located in Casa Grande, Arizona. The company was formerly known as Elim Mining Incorporated and changed its name to Arizona Sonoran Copper Company Inc in July 2021. Arizona Sonoran Copper Company Inc was incorporated in 2019 and is based in Toronto, Canada.