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Short Interest Ratio Indicates Bullish Canadian Stocks: $PAAS $REAL $AUP

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Pan American Silver Provides Update On La Colorada

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Pan American Silver Corp. (TSX:PAAS) has a short interest ratio of 1.0 implying that investors think that stock could gain in the near-team. This means the sentiments are bullish on the stock. The company updated the inferred mineral resource of the La Colorada skarn deposit in Mexico of 100.4 million tonnes. The resource contains around 141.0 million silver ounces. Interestingly the updated mineral resource represents an increase of 38% which is an equivalent of the initial resource estimate given in December last year.

The company has put the Morococha and Hauron operations in Peru under care and maintenance after workers at the mines tested positive of coronavirus. The reduced workforce at the mines will carry out care and maintenance until it is safe to resume normal operations.

Real Matters almost doubles YoY consolidated income

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Real Matters Inc. (TSX:REAL) is also another stock with a short interest ratio of 1.0 implying that investors think the price is to increase in the near-term. This means the sentiments are bullish on the stock. The company reported its Q3 2020 results in which it posted a consolidated adjusted income of $20.9 million which is almost 100% growth from Q3 2019. US title adjusted income was $13.3 million exceeding the Appraisal segment for the first time which delivered $10.8 million. CEO Jason smith stated that the US mortgage market showed resilience in Q3 even amid the COVID-19 pandemic.

Smith added that the low-interest-rate environment has created a huge opportunity for the company. However, the ability of lenders to enhance underwriting capability during the pandemic still remains a challenge to growth. Consolidated revenue for the quarter was $118.1 million.

Aurinia Pharmaceuticals closes public offering raising gross proceeds of $20 million

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Aurinia Pharmaceuticals Inc. (TSX:AUP) has a short interest ratio of 1.01 which means investors think the stock price is to rise. This means the sentiments are bullish on the stock. Recently the company closed a public offering underwriting of 13.33 million common shares which were sold at $15 per share. Gross proceeds from the offering were $200 million before subtracting underwriting commissions and discounts. Aurinia will use the net proceeds from the offering in pre-commercialization and launching activities, R&D, and general working capital.

The company is expected to report its Q2 2020 results on August 11, 2020, after markets close followed by a conference call from the executive team to offer a business update and discuss the results.

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The post Short Interest Ratio Indicates Bullish Canadian Stocks: $PAAS $REAL $AUP appeared first on The Market Signals.

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