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Silver Lake Resources Limited (OTCMKTS:SVLKF) Sees Large Increase in Short Interest

Financial News Live ·  07/05 15:51

Silver Lake Resources Limited (OTCMKTS:SVLKF – Get Rating) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 273,000 shares, a growth of 35.2% from the May 31st total of 201,900 shares. Based on an average daily volume of 13,800 shares, the short-interest ratio is currently 19.8 days.

Shares of OTCMKTS SVLKF opened at $0.85 on Tuesday. The firm's fifty day moving average is $1.07 and its two-hundred day moving average is $1.26. Silver Lake Resources has a 52-week low of $0.85 and a 52-week high of $1.68.

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Separately, Macquarie upgraded shares of Silver Lake Resources to a "buy" rating and set a $2.10 price target on the stock in a report on Thursday, June 2nd.

About Silver Lake Resources (Get Rating)

Silver Lake Resources Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and copper concentrates in Eastern Goldfields and Midwest regions of Western Australia. The company holds interests in the Deflector Gold Copper project that produces gold bullion and gold-copper concentrates located in the Southern Murchison region of Western Australia, including development and ramp up of a secondary high grade ore source at Rothsay; and Mount Monger operations, which produce gold bullion located within the Kalgoorlie terrane subdivision of the Eastern Goldfields Province.

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