Arizona Sonoran Copper Company Inc. (OTCMKTS:ASCUF) Sees Significant Drop in Short Interest

Arizona Sonoran Copper Company Inc. (OTCMKTS:ASCUF) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 652,493 shares, a drop of 68.1% from the April 30th total of 2,044,651 shares. Based on an average trading volume of 249,363 shares, the short-interest ratio is presently 2.6 days.

Arizona Sonoran Copper Stock Performance

ASCUF stock opened at $7.01 on Friday. The firm has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $4.54. Arizona Sonoran Copper has a 52 week low of $1.46 and a 52 week high of $7.01.

Wall Street Analyst Weigh In

Separately, Scotiabank reissued an “outperform” rating on shares of Arizona Sonoran Copper in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Arizona Sonoran Copper

Arizona Sonoran Copper Company Inc engages in the identification, acquisition, exploration, development, and production of base metal properties. It primarily explores for copper. The company’s principal asset is the 100% owned Cactus Mine Project located in Casa Grande, Arizona. The company was formerly known as Elim Mining Incorporated and changed its name to Arizona Sonoran Copper Company Inc in July 2021. Arizona Sonoran Copper Company Inc was incorporated in 2019 and is based in Toronto, Canada.