Deterra Royalties Limited (OTCMKTS:DETRF) Shares Shorted: Short Interest Up 370.7% in September

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 daily trading volume, of 17,204 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets initiated coverage on Deterra Royalties in a report on Thursday, September 17th. They issued an “outperform” rating and a $5.25 price objective for the company. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Deterra Royalties Stock Performance

OTCMKTS:DETRF opened at C$2.75 on Tuesday. The firm has a 50-day simple moving average of C$3.04 and a 200-day simple moving average of C$3.11. Deterra Royalties has a one year low of C$2.51 and a one year high of C$3.50.

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.