Short Interest in Fury Gold Mines Limited (NYSEAMERICAN:FURY) Expands By 91.1%

Key Points

• Fury Gold Mines Limited's short interest surged by 91.1% in September, reaching 411,900 shares compared to 215,500 shares on September 15th.
• HC Wainwright has maintained a "buy" rating for Fury Gold Mines, with a price target of $1.40, indicating positive analyst sentiment.
• Institutional investors have significantly increased their stakes in Fury Gold Mines, with Bank of America Corp DE raising its stake by 590.0% in the second quarter.

Fury Gold Mines Limited (NYSEAMERICAN:FURY - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 411,900 shares, a growth of 91.1% from the September 15th total of 215,500 shares. Based on an average trading volume of 514,900 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the company's shares are short sold. Approximately 0.3% of the company's shares are short sold. Based on an average trading volume of 514,900 shares, the short-interest ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $1.40 price objective on shares of Fury Gold Mines in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $1.40.

Fury Gold Mines Price Performance

FURY traded down $0.08 during trading hours on Tuesday, reaching $0.65. 2,355,010 shares of the stock traded hands, compared to its average volume of 1,230,692. The firm's fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.52. The company has a market cap of $121.97 million, a price-to-earnings ratio of -1.23 and a beta of 0.91. Fury Gold Mines has a fifty-two week low of $0.35 and a fifty-two week high of $0.89.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ashford Capital Management Inc. boosted its stake in Fury Gold Mines by 10.2% during the 1st quarter. Ashford Capital Management Inc. now owns 3,650,015 shares of the company's stock valued at $1,442,000 after acquiring an additional 339,000 shares during the last quarter. Bank of America Corp DE boosted its stake in Fury Gold Mines by 590.0% during the 2nd quarter. Bank of America Corp DE now owns 103,500 shares of the company's stock valued at $51,000 after acquiring an additional 88,500 shares during the last quarter. Finally, Virginia Wealth Management Group Inc. bought a new position in Fury Gold Mines during the 3rd quarter valued at $46,000. 12.14% of the stock is currently owned by institutional investors.

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.

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