Kumba Iron Ore Ltd. (OTCMKTS:KIROY) Sees Significant Growth in Short Interest

Kumba Iron Ore Ltd. (OTCMKTS:KIROY) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 170,650 shares, an increase of 1,669.7% from the June 15th total of 9,643 shares. Based on an average trading volume of 228,402 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Kumba Iron Ore to a “hold” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Kumba Iron Ore Stock Up 6.4%

OTCMKTS:KIROY traded up $0.36 during trading hours on Friday, hitting $5.99. 34,072 shares of the stock were exchanged, compared to its average volume of 97,641. The company’s 50 day moving average is $6.29 and its two-hundred day moving average is $6.81. Kumba Iron Ore has a twelve month low of $5.44 and a twelve month high of $8.47.

Kumba Iron Ore Company Profile

Kumba Iron Ore, trading over the counter under the symbol KIROY, is one of South Africa’s leading iron ore producers. The company operates two primary open-pit mines—Sishen and Kolomela—located in the Northern Cape province. These operations focus on the extraction and processing of high-quality hematite ore, producing a range of lump and fine products that serve as essential feedstock for global steelmakers.

Established in 2001 following a demerger from parent companies, Kumba Iron Ore has grown its production capacity and operational efficiency through sustained investment in mining technology and infrastructure.