Azimut Exploration Inc. (OTCMKTS:AZMTF) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 23,600 shares, a decline of 25.8% from the August 15th total of 31,800 shares. Based on an average daily volume of 43,700 shares, the days-to-cover ratio is presently 0.5 days.
Shares of AZMTF stock traded up $0.01 during trading hours on Wednesday, reaching $0.95. 125,647 shares of the company traded hands, compared to its average volume of 40,157. Azimut Exploration has a 12-month low of $0.23 and a 12-month high of $2.35. The stock’s 50-day moving average price is $1.27.
Separately, Bank of America raised Azimut Exploration from a “neutral” rating to a “buy” rating in a research report on Friday, July 17th.
Azimut Exploration Inc engages in the acquisition, exploration, and evaluation of mineral properties in Canada. It explores for copper, gold, zinc, silver, cobalt, tungsten, rare earth elements, uranium, chromium, nickel, and platinum group elements, as well as base metals. The company holds interests in the Kaanaayaa Property comprises 390 claims covering 200.5 square kilometers located in the James Bay region of Quebec.
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