O3 Mining Inc. (OTCMKTS:OQMGF) Sees Significant Increase in Short Interest

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O3 Mining Inc. (OTCMKTS:OQMGF) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 4,900 shares, an increase of 716.7% from the December 15th total of 600 shares. Based on an average daily trading volume, of 30,600 shares, the short-interest ratio is currently 0.2 days.

Shares of OQMGF traded up $0.02 during mid-day trading on Wednesday, hitting $2.30. 4,877 shares of the company’s stock were exchanged, compared to its average volume of 12,397. O3 Mining has a 52 week low of $0.64 and a 52 week high of $3.88. The company has a 50-day simple moving average of $2.33 and a 200 day simple moving average of $2.11.

A number of analysts have recently commented on OQMGF shares. CIBC upped their price target on O3 Mining from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Cormark started coverage on O3 Mining in a research note on Friday, November 27th. They issued a “buy” rating for the company.

About O3 Mining

O3 Mining Inc engages in the acquisition, exploration, and development of precious mineral deposits in Canada. It primarily explores for gold deposits. The company focuses on the projects located in Ontario and Quebec. The company is based in Toronto, Canada.

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