Sandfire Resources America Inc. (OTCMKTS:SRAFF) Sees Significant Increase in Short Interest

Sandfire Resources America Inc. (OTCMKTS:SRAFF) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 39,837 shares, an increase of 823.0% from the January 15th total of 4,316 shares. Based on an average daily volume of 155,889 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 155,889 shares, the days-to-cover ratio is presently 0.3 days.

Sandfire Resources America Stock Down 4.4%

OTCMKTS:SRAFF traded down $0.01 during trading hours on Tuesday, reaching $0.24. 53,418 shares of the stock were exchanged, compared to its average volume of 79,347. The business has a 50-day moving average of $0.24 and a two-hundred day moving average of $0.22. Sandfire Resources America has a twelve month low of $0.17 and a twelve month high of $0.32.

Sandfire Resources America Company Profile

Sandfire Resources America Corp. (OTCMKTS:SRAFF) operates as the American depositary receipt issuer for Sandfire Resources Ltd., an Australian-based, independent copper and gold producer. Through its ADR program, the company holds and administers ordinary shares of its parent, enabling U.S. investors to participate in the underlying performance of Sandfire Resources Ltd. without direct exposure to foreign securities markets.

The underlying parent company was founded in 2003 and has since developed a portfolio of copper and gold operations and exploration projects across multiple continents.