Kumba Iron Ore Limited (OTCMKTS:KUMBF) Short Interest Down 46.5% in May

Kumba Iron Ore Limited (OTCMKTS:KUMBF) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 29,633 shares, a drop of 46.5% from the April 30th total of 55,413 shares. Based on an average daily trading volume, of 31 shares, the days-to-cover ratio is presently 955.9 days.

Kumba Iron Ore Price Performance

KUMBF stock remained flat at $19.77 during midday trading on Wednesday. The stock’s 50 day simple moving average is $18.20 and its 200-day simple moving average is $20.14. Kumba Iron Ore has a 12-month low of $17.56 and a 12-month high of $21.74.

Kumba Iron Ore Company Profile

Kumba Iron Ore (OTCMKTS: KUMBF) is a leading South African iron ore producer, primarily engaged in the mining, beneficiation and marketing of seaborne iron ore. The company is listed on the JSE Limited and trades in the United States on the OTC Markets under the symbol KUMBF. As a subsidiary of Anglo American plc, Kumba Iron Ore focuses on extracting premium grades of hematite ore, which serve as key feedstock for global steelmakers.

The company’s core operations are concentrated in the Northern Cape Province of South Africa, where it operates two flagship open-pit mines: Sishen and Kolomela.