Short Interest in GoGold Resources Inc. (OTCMKTS:GLGDF) Drops By 23.8%

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GoGold Resources Inc. (OTCMKTS:GLGDF) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 194,900 shares, a drop of 23.8% from the March 31st total of 255,700 shares. Based on an average daily volume of 254,300 shares, the short-interest ratio is currently 0.8 days.

Several equities research analysts recently commented on the stock. BMO Capital Markets upped their price objective on shares of GoGold Resources from $3.10 to $3.50 and gave the stock an “outperform” rating in a report on Friday, February 12th. Echelon Wealth Partners reaffirmed a “buy” rating on shares of GoGold Resources in a research note on Thursday, February 25th.

Shares of OTCMKTS GLGDF traded up $0.02 during mid-day trading on Tuesday, reaching $2.13. The company’s stock had a trading volume of 233,756 shares, compared to its average volume of 170,519. GoGold Resources has a 1-year low of $0.50 and a 1-year high of $2.25. The stock has a 50-day moving average of $1.98 and a two-hundred day moving average of $1.70.

About GoGold Resources

GoGold Resources Inc engages in the exploration, development, and production of gold and silver primarily in Mexico. The company holds an interest in the Parral Tailings project, which covers an area of 141 hectares located in the state of Chihuahua, Mexico. It also holds an option to acquire 100% concessions of the Los Ricos project, which covers 42 concessions with an area of approximately 22,000 hectares situated in the Jalisco State, Mexico.

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