Magna Mining Inc. (OTCMKTS:MGMNF) Sees Large Increase in Short Interest

Magna Mining Inc. (OTCMKTS:MGMNF) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 204,700 shares, an increase of 23.2% from the August 31st total of 166,200 shares. Based on an average daily trading volume, of 109,200 shares, the short-interest ratio is currently 1.9 days.

Magna Mining Price Performance

OTCMKTS:MGMNF traded down $0.04 during trading hours on Monday, reaching $0.91. 16,377 shares of the company traded hands, compared to its average volume of 39,047. The firm’s 50-day moving average is $0.63 and its 200-day moving average is $0.57. Magna Mining has a 1-year low of $0.28 and a 1-year high of $1.00.

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.