Kumba Iron Ore Limited (OTCMKTS:KIROY) Sees Large Decline in Short Interest

Posted by Defense World Staff on May 3rd, 2023

Kumba Iron Ore Limited (OTCMKTS:KIROY – Get Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 5,200 shares, a decrease of 5.5% from the March 31st total of 5,500 shares. Based on an average daily trading volume, of 1,200 shares, the short-interest ratio is currently 4.3 days.

Kumba Iron Ore Stock Performance

KIROY stock opened at $8.15 on Wednesday. The company’s 50 day moving average is $8.53 and its 200 day moving average is $8.99. Kumba Iron Ore has a 1-year low of $6.30 and a 1-year high of $13.05.

Kumba Iron Ore Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 30th. Investors of record on Friday, March 17th were given a $0.2202 dividend. This represents a dividend yield of 7.4%. The ex-dividend date of this dividend was Thursday, March 16th.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KIROY shares. HSBC upgraded Kumba Iron Ore from a “reduce” rating to a “hold” rating in a research report on Friday, April 21st. Investec upgraded shares of Kumba Iron Ore from a “sell” rating to a “buy” rating in a research report on Tuesday, April 4th.

Kumba Iron Ore Company Profile

(Get Rating)

Kumba Iron Ore Ltd. engages in the extraction, production, and sale iron ore. It operates through the following segments: Sishen Mine, Kolomela Mine, Logistics, Shipping Operations, and Other. The Sishen Mine and Kolomela Mine segments focuses on the extraction and production of iron ore. The Logistics and Shipping Operation segment deals with railed and rail tariffs.