Short Interest in Magna Mining Inc. (OTCMKTS:MGMNF) Expands By 31.5%

Magna Mining Inc. (OTCMKTS:MGMNF) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 163,700 shares, a growth of 31.5% from the February 28th total of 124,500 shares. Based on an average daily volume of 77,000 shares, the short-interest ratio is currently 2.1 days.

Magna Mining Price Performance

Shares of OTCMKTS MGMNF traded down $0.00 during midday trading on Tuesday, reaching $1.09. 66,227 shares of the company’s stock traded hands, compared to its average volume of 60,943. The stock’s 50 day simple moving average is $1.16 and its 200-day simple moving average is $1.04. Magna Mining has a one year low of $0.38 and a one year high of $1.28.

Magna Mining Company Profile

Magna Mining Inc engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for nickel, copper, and platinum group metal deposits. Its flagship property is 100% owned the Shakespeare Mine consisting of 29 patented claims, 3 leased claims, and 787 mining claims covering an area of 18074.94 hectares located in Sudbury, Canada.