Fury Gold Mines Limited (NYSEAMERICAN:FURY) Sees Significant Increase in Short Interest

Key Points

• Fury Gold Mines Limited experienced a significant increase in short interest, rising by 303.8% in August, with total short interest reaching 73,900 shares as of August 31st.
• HC Wainwright reiterated a "buy" rating for the stock and set a target price of $1.40, reflecting a consensus rating of "Buy" among analysts.
• Bank of America Corp DE increased its stake in Fury Gold Mines by 590% during Q2, owning 103,500 shares after purchasing an additional 88,500 shares.

Fury Gold Mines Limited (NYSEAMERICAN:FURY - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 73,900 shares, an increase of 303.8% from the August 15th total of 18,300 shares. Based on an average daily trading volume, of 357,200 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 357,200 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Fury Gold Mines

A hedge fund recently raised its stake in Fury Gold Mines stock. Ashford Capital Management Inc. increased its position in shares of Fury Gold Mines Limited (NYSEAMERICAN:FURY - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650,015 shares of the company's stock after purchasing an additional 339,000 shares during the period. Ashford Capital Management Inc. owned 2.40% of Fury Gold Mines worth $1,442,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 12.14% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and issued a $1.40 price target on shares of Fury Gold Mines in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $1.40.

Fury Gold Mines Stock Performance

Shares of FURY traded down $0.03 during trading hours on Wednesday, hitting $0.68. The stock had a trading volume of 386,687 shares, compared to its average volume of 674,958. The company's fifty day simple moving average is $0.55 and its 200 day simple moving average is $0.46. Fury Gold Mines has a 12-month low of $0.35 and a 12-month high of $0.73. The firm has a market cap of $116.73 million, a P/E ratio of -1.28 and a beta of 0.83.

About Fury Gold Mines

Fury Gold Mines Limited, together with its subsidiaries, engages in the gold exploration in Canada. Its principal projects include 100% owned Eau Claire property covering an area of approximately 24,000 hectares located in the Eeyou Istchee/James Bay Region of Quebec; ans Committee Bay gold project with approximately 250,000 hectares located in Nunavut, Canada.