Russel Metals Inc. (OTCMKTS:RUSMF) Short Interest Update

Russel Metals Inc. (OTCMKTS:RUSMF) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 563,505 shares, a growth of 183.8% from the May 14th total of 198,561 shares. Based on an average trading volume of 14,224 shares, the days-to-cover ratio is currently 39.6 days.

Russel Metals Price Performance

RUSMF traded down $0.25 during trading hours on Friday, reaching $44.00. 17,163 shares of the stock traded hands, compared to its average volume of 16,274. Russel Metals has a fifty-two week low of $27.78 and a fifty-two week high of $45.91. The firm’s fifty day simple moving average is $40.22 and its two-hundred day simple moving average is $35.73.

Analyst Ratings Changes

Several brokerages recently issued reports on RUSMF. Royal Bank Of Canada reiterated an “outperform” rating on shares of Russel Metals in a report on Friday, February 13th. TD Securities reaffirmed a “buy” rating on shares of Russel Metals in a research report on Tuesday, May 5th. Scotiabank reiterated an “outperform” rating on shares of Russel Metals in a research note on Thursday, May 7th. Finally, National Bank Financial downgraded Russel Metals from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Russel Metals Company Profile

Russel Metals Inc is one of North America’s leading metal distribution and processing companies, offering a comprehensive range of steel, aluminum, stainless steel, and specialty metal products. Through its extensive network of service centres, the company provides value-added processing such as precision cutting, shearing, burning, drilling, rolling, and plate profiling, alongside inventory management and just-in-time delivery solutions. This integrated model helps industrial, construction, and manufacturing customers optimize supply chains and reduce lead times.

Founded in 1929 and headquartered in Mississauga, Ontario, Russel Metals has grown through organic expansion and strategic acquisitions to establish a broad presence across Canada and the United States.