Short Interest in African Rainbow Minerals Limited (OTCMKTS:AFBOF) Declines By 43.6%

African Rainbow Minerals Limited (OTCMKTS:AFBOF) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 517 shares, a drop of 43.6% from the May 31st total of 917 shares. Based on an average trading volume of 55 shares, the short-interest ratio is currently 9.4 days.

African Rainbow Minerals Stock Performance

Shares of AFBOF stock opened at $11.07 on Friday. African Rainbow Minerals has a 1 year low of $9.47 and a 1 year high of $15.00. The stock’s 50 day simple moving average is $13.34 and its two-hundred day simple moving average is $13.15.

About African Rainbow Minerals

African Rainbow Minerals (OTCMKTS:AFBOF) is a South Africa–based diversified mining and beneficiation company with a portfolio spanning ferrous metals, base metals and precious metals. The company’s principal operations include the exploration, extraction, processing and marketing of iron ore, manganese, chrome, platinum group metals and gold. Through a combination of wholly owned operations and strategic joint ventures, African Rainbow Minerals participates in every stage of the mining value chain, from resource evaluation and mine development to downstream smelting and refining.

The company holds majority interests in several prominent mining assets in South Africa, including iron ore and manganese operations in the Northern Cape and chrome and platinum group metals projects in the Bushveld Complex.