Short Interest in Kumba Iron Ore Ltd. (OTCMKTS:KIROY) Drops By 30.2%

Key Points

• Short interest in Kumba Iron Ore Ltd. decreased by 30.2% in September, with total shares short dropping from 21,500 to 15,000.
• HSBC has downgraded Kumba Iron Ore to a "hold" rating, contributing to a current consensus rating of "Hold" from analysts.
• The company declared a dividend of $0.2254 per share, resulting in an impressive yield of 859.0%.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 15,000 shares, a decrease of 30.2% from the August 31st total of 21,500 shares. Based on an average daily trading volume, of 25,400 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 25,400 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, HSBC lowered Kumba Iron Ore to a "hold" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Kumba Iron Ore Stock Performance

KIROY opened at $6.37 on Monday. Kumba Iron Ore has a twelve month low of $4.78 and a twelve month high of $7.77. The company has a 50-day moving average price of $5.98 and a 200 day moving average price of $5.78.

Kumba Iron Ore Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 25th were given a dividend of $0.2254 per share. This represents a yield of 859.0%. The ex-dividend date was Friday, August 22nd.

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.

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