Chilwa Minerals Limited (NASDAQ:CHWM) Shares Shorted: Short Interest Up 404.3% in October

Chilwa Minerals Limited (NASDAQ:CHWM) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 16,570 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

CHWM has been the topic of a number of research reports. Wall Street Zen upgraded Chilwa Minerals to a “hold” rating in a report on Saturday, October 10th. Maxim Group initiated 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. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Chilwa Minerals has a consensus rating of “Buy” and a consensus price target of $11.00.

Chilwa Minerals Price Performance

CHWM stock traded down $0.20 during midday trading on Friday, hitting $3.05. 441 shares of the company’s stock were exchanged, 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.