Silver Bow Mining Corp. (NYSEAMERICAN:SBMT) Sees Large Increase in Short Interest

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

Insider Buying and Selling

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

Silver Bow Mining Trading Up 2.1%

SBMT traded up $0.14 during trading on Wednesday, hitting $6.90. The company’s stock had a trading volume of 14,978 shares, compared to its average volume of 190,266. Silver Bow Mining has a twelve month low of $5.75 and a twelve month high of $11.23. The business’s fifty day moving average price is $8.79.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald assumed coverage on shares of Silver Bow Mining in a research report on Thursday, May 28th. They issued a “speculative buy” rating and a $19.80 price objective for the company. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.80.

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.