Short Interest in Kumba Iron Ore Ltd. (OTCMKTS:KIROY) Expands By 51.4%

Key Points

• Kumba Iron Ore Ltd. experienced a significant increase in short interest, rising by 51.4% in August, bringing the total number of shorted shares to 21,500.
• HSBC downgraded Kumba Iron Ore's stock to a "hold" rating, contributing to an average rating of "Hold" among analysts.
• The company recently declared a dividend of $0.2254 per share, with an impressive dividend yield of 859.0%.

Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 21,500 shares, a growth of 51.4% from the August 15th total of 14,200 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 110,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 110,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, HSBC lowered shares of 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.com, the stock presently has an average rating of "Hold".

Kumba Iron Ore Trading Down 0.3%

Shares of OTCMKTS KIROY opened at $6.11 on Tuesday. Kumba Iron Ore has a 12 month low of $4.78 and a 12 month high of $7.90. The company has a 50-day simple moving average of $5.86 and a 200-day simple moving average of $5.81.

Kumba Iron Ore Cuts Dividend

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

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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