Deterra Royalties Limited (OTCMKTS:DETRF) Stock Short Interest Jumps 370.7%

Deterra Royalties Limited (OTCMKTS:DETRF) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 13,282 shares, a growth of 370.7% from the September 15th total of 2,822 shares. Based on an average trading volume of 17,204 shares, the days-to-cover ratio is currently 0.8 days.

Deterra Royalties Trading Down 0.4%

Shares of DETRF stock traded down C$0.01 during mid-day trading on Friday, reaching C$2.81. 3,103 shares of the company’s stock traded hands, compared to its average volume of 21,373. Deterra Royalties has a 12 month low of C$2.51 and a 12 month high of C$3.50. The firm has a 50 day moving average price of C$3.05 and a two-hundred day moving average price of C$3.11.

Analyst Ratings Changes

Separately, BMO Capital Markets began coverage on shares of Deterra Royalties in a research note on Thursday, September 17th. They set an “outperform” rating and a $5.25 target price on the stock. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

About Deterra Royalties

Deterra Royalties Limited is an Australia-based mining royalty company that provides investors with exposure to mineral production without directly operating mines. The company receives royalty payments from mine operators based on the volume or value of minerals produced from its royalty interests.

Deterra’s portfolio has historically been anchored by its royalty interest in Mining Area C, a major iron ore operation in Western Australia’s Pilbara region operated by BHP. The company has also pursued diversification across commodities, mining assets and geographic regions through acquisitions and the addition of new royalty interests.

Deterra was established in 2020 through the demerger of Iluka Resources’ royalty business and is headquartered in Perth, Western Australia.