Kumba Iron Ore Ltd. (OTCMKTS:KIROY) Short Interest Up 103.8% in July

Key Points

• Kumba Iron Ore Ltd. experienced a significant increase in short interest, rising by 103.8% in July, reaching a total of 16,100 shares as of July 31st.
• HSBC has downgraded Kumba Iron Ore's shares to a "hold" rating, indicating a cautious outlook from analysts.
• The stock is currently trading at $5.80, close to its 12-month low of $4.78 and high of $7.90.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 16,100 shares, anincreaseof103.8% from the July 15th total of 7,900 shares. Based on an average daily volume of 5,900 shares, the short-interest ratio is presently 2.7 days. Approximately0.0% of the company's stock are sold short. Approximately0.0% of the company's stock are sold short. Based on an average daily volume of 5,900 shares, the short-interest ratio is presently 2.7 days.

Kumba Iron Ore Stock Performance

Shares of KIROY stock traded down $0.05 during trading on Friday, reaching $5.61. 3,400 shares of the company's stock traded hands, compared to its average volume of 5,516. The firm's 50-day moving average is $5.71 and its 200 day moving average is $5.91. Kumba Iron Ore has a 1 year low of $4.78 and a 1 year high of $7.8950.

Kumba Iron Ore Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 25th will be issued a dividend of $0.2254 per share. This represents a yield of 859.0%. The ex-dividend date of this dividend is Friday, August 22nd.

Analysts Set New Price Targets

Separately, HSBC downgraded shares of Kumba Iron Ore to a "hold" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Kumba Iron Ore currently has an average rating of "Hold".

Kumba Iron Ore Company Profile

Kumba Iron Ore Limited, together with its subsidiaries, engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore for the steel industry primarily in South Africa, China, rest of Asia, Europe, the Middle East, and North Africa. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province.