Evolution Mining Limited (OTCMKTS:CAHPF) Sees Large Growth in Short Interest

Evolution Mining Limited (OTCMKTS:CAHPF) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,909,174 shares, an increase of 345.0% from the June 15th total of 653,774 shares. Based on an average daily volume of 6,332 shares, the short-interest ratio is presently 459.4 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Evolution Mining from a “neutral” rating to a “neutral” rating and set a $12.70 price objective on the stock in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $12.70.

Evolution Mining Stock Performance

Shares of OTCMKTS:CAHPF remained flat at $7.82 during midday trading on Friday. The stock’s 50-day simple moving average is $8.67 and its two-hundred day simple moving average is $9.32. Evolution Mining has a fifty-two week low of $4.36 and a fifty-two week high of $12.70.

About Evolution Mining

Evolution Mining is an Australia-based gold and copper producer with its corporate headquarters in Sydney. Listed on the Australian Securities Exchange and trading in the United States on the OTC market as CAHPF, the company focuses on the discovery, development, extraction and processing of mineral resources. Evolution’s integrated operations encompass all stages of the mining value chain, from exploration and project acquisition to production, processing and marketing of precious metals and copper concentrates.

The company’s asset portfolio spans multiple jurisdictions across Australia and North America.