Chilwa Minerals Limited (NASDAQ:CHWM) Stock Short Interest Climbs 404.3%

Chilwa Minerals Limited (NASDAQ:CHWM) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 6,051 shares, a growth of 404.3% from the October 15th total of 1,200 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 16,570 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHWM. Maxim Group assumed coverage on shares of Chilwa Minerals in a report on Wednesday, October 21st. They set a “buy” rating and a $11.00 target price for the company. Wall Street Zen raised Chilwa Minerals to a “hold” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.00.

Chilwa Minerals Stock Performance

Shares of NASDAQ CHWM traded down $0.40 during midday trading on Thursday, hitting $3.25. The stock had a trading volume of 2,899 shares, compared to its average volume of 13,974. Chilwa Minerals has a 1 year low of $3.11 and a 1 year high of $7.08.

About Chilwa Minerals

Chilwa Minerals is a mineral exploration company focused on mineral-sands and rare-earth opportunities in Malawi. Its principal project is the Lake Chilwa Project in the country’s south, where the company is exploring for heavy mineral sands and rare-earth-bearing minerals. Chilwa Minerals is at the exploration stage; it is seeking to assess the mineral potential of its Malawi projects rather than producing or selling minerals. Its activities include evaluating deposits that may contain minerals such as ilmenite, rutile, zircon and monazite.