Namib Minerals (NASDAQ:NAMM – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 142,797 shares, an increase of 63.9% from the August 31st total of 87,146 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 385,948 shares, the days-to-cover ratio is currently 0.4 days.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of Namib Minerals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.
Check Out Our Latest Stock Analysis on NAMM
Institutional Inflows and Outflows
Namib Minerals Stock Down 5.0%
Shares of Namib Minerals stock traded down $0.05 during mid-day trading on Wednesday, reaching $0.95. 1,584,093 shares of the stock traded hands, compared to its average volume of 3,762,379. The business has a 50-day moving average of $1.36 and a 200 day moving average of $1.72. Namib Minerals has a fifty-two week low of $0.91 and a fifty-two week high of $7.42. The stock has a market capitalization of $51.65 million, a PE ratio of -1.01 and a beta of -0.03.
About Namib Minerals
Namib Minerals Limited is a gold mining company focused on the acquisition, development and operation of gold assets in Zimbabwe. Its activities include mine development, mineral exploration, ore processing and gold production.
The company’s portfolio includes the How Mine, Mazowe Mine and Shamva Mine, which are located in Zimbabwe’s established gold-producing regions. Namib Minerals is focused on advancing and operating these assets while evaluating opportunities to expand its mineral resources and production base.
Namib Minerals is headquartered in Africa and serves the international gold market through its Zimbabwean mining operations.
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