GoGold Resources Inc. (OTCMKTS:GLGDF) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,068,300 shares, an increase of 285.8% from the August 15th total of 276,900 shares. Based on an average daily volume of 180,300 shares, the days-to-cover ratio is currently 5.9 days.
Separately, Echelon Wealth Partners reaffirmed a “buy” rating and issued a C$3.80 price objective on shares of GoGold Resources in a research report on Monday, August 30th.
GLGDF stock traded down $0.01 during mid-day trading on Wednesday, reaching $2.49. The company had a trading volume of 58,898 shares, compared to its average volume of 153,420. GoGold Resources has a one year low of $1.02 and a one year high of $2.95. The stock’s 50-day simple moving average is $2.36 and its two-hundred day simple moving average is $2.22.
Gogold Resources, Inc engages in the exploration, development and production of gold and silver. Its projects include Parral Tailings and Santa Gertrudis. The company was founded on January 18, 2008 and is headquartered in Halifax, Canada.
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