Magna Mining Inc. (OTCMKTS:MGMNF) Sees Significant Increase in Short Interest

Magna Mining Inc. (OTCMKTS:MGMNF) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 163,700 shares, an increase of 31.5% from the February 28th total of 124,500 shares. Based on an average daily trading volume, of 77,000 shares, the days-to-cover ratio is currently 2.1 days.

Magna Mining Stock Performance

Shares of Magna Mining stock traded down $0.01 during trading on Monday, reaching $1.09. 80,094 shares of the stock were exchanged, compared to its average volume of 60,540. Magna Mining has a 1 year low of $0.38 and a 1 year high of $1.28. The stock’s fifty day moving average is $1.16 and its 200 day moving average is $1.03.

About Magna Mining

Magna Mining Inc engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for nickel, copper, and platinum group metal deposits. Its flagship property is 100% owned the Shakespeare Mine consisting of 29 patented claims, 3 leased claims, and 787 mining claims covering an area of 18074.94 hectares located in Sudbury, Canada.