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

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

Analyst Upgrades and Downgrades

ARNGF has been the subject of several analyst reports. BMO Capital Markets initiated coverage on Argonaut Gold in a report on Thursday. They set an “outperform” rating for the company. Scotiabank reduced their price target on Argonaut Gold from C$1.20 to C$0.90 in a report on Thursday. Finally, Desjardins reduced their price target on Argonaut Gold from C$1.10 to C$0.80 in a report on Tuesday, February 28th.

Argonaut Gold Price Performance

OTCMKTS ARNGF traded down $0.01 during trading hours on Friday, hitting $0.42. The company’s stock had a trading volume of 175,317 shares, compared to its average volume of 457,172. Argonaut Gold has a 12 month low of $0.24 and a 12 month high of $1.02. The company’s 50 day simple moving average is $0.46 and its two-hundred day simple moving average is $0.41.

About Argonaut Gold

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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.