Short Interest in Evolution Mining Limited (OTCMKTS:CAHPF) Drops By 91.1%

Evolution Mining Limited (OTCMKTS:CAHPF) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 259,274 shares, a drop of 91.1% from the June 30th total of 2,909,174 shares. Based on an average daily volume of 25,234 shares, the days-to-cover ratio is currently 10.3 days.

Analyst Ratings Changes

Several analysts have issued reports on CAHPF shares. The Goldman Sachs Group upgraded Evolution Mining from a “neutral” rating to a “neutral” rating and set a $12.70 price objective on the stock in a report on Wednesday, June 3rd. Canaccord Genuity Group set a $12.25 price target on shares of Evolution Mining in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Evolution Mining presently has an average rating of “Reduce” and an average target price of $12.47.

Evolution Mining Price Performance

OTCMKTS CAHPF opened at $7.96 on Friday. Evolution Mining has a twelve month low of $4.36 and a twelve month high of $12.70. The stock has a 50-day simple moving average of $8.32 and a 200 day simple moving average of $9.25.

Evolution Mining Company Profile

Evolution Mining is an Australia-based gold and copper producer with its corporate headquarters in Sydney. Listed on the Australian Securities Exchange and trading in the United States on the OTC market as CAHPF, the company focuses on the discovery, development, extraction and processing of mineral resources. Evolution’s integrated operations encompass all stages of the mining value chain, from exploration and project acquisition to production, processing and marketing of precious metals and copper concentrates.

The company’s asset portfolio spans multiple jurisdictions across Australia and North America.