African Rainbow Minerals Limited (OTCMKTS:AFBOF) Short Interest Up 363.1% in May

African Rainbow Minerals Limited (OTCMKTS:AFBOF) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 917 shares, a growth of 363.1% from the May 14th total of 198 shares. Based on an average daily trading volume, of 264 shares, the days-to-cover ratio is presently 3.5 days.

African Rainbow Minerals Price Performance

Shares of African Rainbow Minerals stock opened at $11.07 on Friday. African Rainbow Minerals has a twelve month low of $9.47 and a twelve month high of $15.00. The firm’s 50-day moving average price is $14.42 and its 200 day moving average price is $13.11.

African Rainbow Minerals Company Profile

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.