IMC Rare Earths Ltd (NYSEAMERICAN:IMC) Stock Short Interest Jumps 550.5%

IMC Rare Earths Ltd (NYSEAMERICAN:IMC) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 173,493 shares, a growth of 550.5% from the August 31st total of 26,670 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 95,597 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of IMC Rare Earths to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, IMC Rare Earths has a consensus rating of “Hold”.

IMC Rare Earths Price Performance

IMC traded down $0.58 during midday trading on Friday, hitting $6.80. The company’s stock had a trading volume of 38,969 shares, compared to its average volume of 82,241. The firm has a 50-day simple moving average of $7.94. IMC Rare Earths has a 52-week low of $4.51 and a 52-week high of $11.84.

About IMC Rare Earths

IMC Rare Earths Inc is a mineral exploration company focused on identifying and advancing properties with potential for rare earth elements and other critical minerals. The company is an exploration-stage business and does not currently manufacture or sell commercial products.

IMC Rare Earths’ activities center on acquiring, evaluating and developing mineral properties in North America. Its work may include geological mapping, sampling, drilling and other exploration programs designed to determine the location, scale and quality of potential mineral resources.

The company was formerly known as IMC International Mining Corp.