Short Interest in Argonaut Gold Inc. (OTCMKTS:ARNGF) Grows By 154.6%

Argonaut Gold Inc. (OTCMKTS:ARNGF – Get Rating) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 628,900 shares, an increase of 154.6% from the April 30th total of 247,000 shares. Based on an average daily volume of 846,700 shares, the days-to-cover ratio is presently 0.7 days.

Argonaut Gold Stock Down 1.3 %

OTCMKTS ARNGF traded down $0.01 during trading hours on Friday, reaching $0.42. The company’s stock had a trading volume of 175,317 shares, compared to its average volume of 457,172. The firm’s 50-day moving average price is $0.46 and its 200-day moving average price is $0.41. Argonaut Gold has a 1 year low of $0.24 and a 1 year high of $1.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ARNGF shares. Scotiabank lowered their price objective on Argonaut Gold from C$1.20 to C$0.90 in a research report on Thursday. Desjardins lowered their price objective on Argonaut Gold from C$1.10 to C$0.80 in a research report on Tuesday, February 28th. Finally, BMO Capital Markets started coverage on Argonaut Gold in a research report on Thursday. They set an “outperform” rating on the stock.

Argonaut Gold Company Profile

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Argonaut Gold, Inc engages in the exploration, mine development, and production activities on gold-bearing properties. Its primary assets are the production stage El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico and the production stage La Colorada mine in Sonora, Mexico.