Deterra Royalties Limited (OTCMKTS:DETRF) Stock Short Interest Falls 82.5%

Deterra Royalties Limited (OTCMKTS:DETRF) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,822 shares, a drop of 82.5% from the August 31st total of 16,121 shares. Based on an average daily trading volume, of 14,108 shares, the days-to-cover ratio is presently 0.2 days.

Deterra Royalties Stock Down 2.4%

DETRF stock traded down C$0.07 during midday trading on Friday, hitting C$2.88. The company’s stock had a trading volume of 64,410 shares, compared to its average volume of 22,792. Deterra Royalties has a twelve month low of C$2.51 and a twelve month high of C$3.50. The company’s fifty day moving average price is C$3.10 and its 200 day moving average price is C$3.11.

Wall Street Analyst Weigh In

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