Deterra Royalties Limited (OTCMKTS:DETRF) Sees Significant Growth in Short Interest

Deterra Royalties Limited (OTCMKTS:DETRF) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 40,806 shares, an increase of 207.2% from the September 30th total of 13,282 shares. Based on an average daily volume of 6,869 shares, the short-interest ratio is presently 5.9 days.

Deterra Royalties Stock Performance

OTCMKTS:DETRF opened at C$2.97 on Thursday. Deterra Royalties has a one year low of C$2.52 and a one year high of C$3.50. The business has a fifty day moving average price of C$2.98 and a 200-day moving average price of C$3.07.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets initiated coverage on Deterra Royalties in a research note on Thursday, September 17th. They issued an “outperform” rating and a $5.25 price target for the company. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

About Deterra Royalties

Deterra Royalties Limited is an Australian mining royalty company that provides capital to mining businesses in exchange for rights to receive a portion of future revenue or production from mineral assets. As a royalty holder, Deterra generally does not operate mines or bear the same direct operating costs as mining companies, allowing it to participate in commodity production across a diversified portfolio.

The company’s principal asset is a royalty over Mining Area C, a major iron ore operation in Western Australia’s Pilbara region operated by BHP.