Silver Bow Mining Corp. (NYSEAMERICAN:SBMT) Short Interest Up 93.3% in June

Silver Bow Mining Corp. (NYSEAMERICAN:SBMT) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 70,026 shares, a growth of 93.3% from the May 31st total of 36,226 shares. Based on an average daily trading volume, of 115,772 shares, the days-to-cover ratio is presently 0.6 days.

Insiders Place Their Bets

In other news, CFO Wade Newton Black purchased 5,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $8.50 per share, with a total value of $42,500.00. Following the transaction, the chief financial officer owned 7,500 shares in the company, valued at $63,750. The trade was a 200.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Travis Naugle purchased 5,000 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $9.88 per share, for a total transaction of $49,400.00. Following the purchase, the chief executive officer owned 105,000 shares in the company, valued at approximately $1,037,400. The trade was a 5.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 20,010 shares of company stock worth $184,461 over the last three months.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald started coverage on Silver Bow Mining in a research report on Thursday, May 28th. They issued a “speculative buy” rating and a $19.80 target price on the stock. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Silver Bow Mining currently has an average rating of “Buy” and a consensus target price of $19.80.

Silver Bow Mining Price Performance

NYSEAMERICAN SBMT traded up $0.14 on Wednesday, reaching $6.90. 14,978 shares of the company’s stock traded hands, compared to its average volume of 190,266. The business has a 50 day moving average of $8.79. Silver Bow Mining has a fifty-two week low of $5.75 and a fifty-two week high of $11.23.

About Silver Bow Mining

Silver Bow Mining Corporation (NYSE American: SBMT) is a mineral exploration and development company focused on acquiring, exploring and advancing mineral properties. The company concentrates on precious and base metals, with an emphasis on commodities commonly produced by hard-rock mining such as copper, silver and gold. Its activities encompass early-stage exploration through the definition and development of mineral resources.

Silver Bow’s work typically includes geological exploration, drilling programs, resource modeling and advancing projects through technical studies and permitting processes necessary for development.