Stelco Holdings Inc. (OTCMKTS:STZHF) Short Interest Update

Stelco Holdings Inc. (OTCMKTS:STZHFGet Rating) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 761,600 shares, a growth of 24.5% from the April 15th total of 611,700 shares. Based on an average daily trading volume, of 6,200 shares, the days-to-cover ratio is presently 122.8 days.

Shares of STZHF traded down $0.33 during mid-day trading on Tuesday, hitting $29.86. 730 shares of the company’s stock were exchanged, compared to its average volume of 10,000. The stock’s 50-day moving average is $38.21 and its 200-day moving average is $33.48. Stelco has a fifty-two week low of $10.68 and a fifty-two week high of $45.45.

STZHF has been the topic of a number of recent analyst reports. National Bank Financial cut shares of Stelco from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, March 30th. Exane BNP Paribas raised shares of Stelco from an “underperform” rating to an “outperform” rating and set a C$56.00 target price on the stock in a research report on Tuesday, March 15th. BNP Paribas raised shares of Stelco to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, March 15th. Scotiabank decreased their target price on shares of Stelco from C$56.00 to C$53.00 in a research report on Monday, May 9th. Finally, Royal Bank of Canada upped their target price on shares of Stelco from C$61.00 to C$62.00 in a research report on Monday, May 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $55.63.

About Stelco (Get Rating)

Stelco Holdings Inc engages in the production and sale of steel products in Canada, the United States, and internationally. It offers flat-rolled value-added steel, including coated, pre-painted, cold-rolled, and hot-rolled sheet products, as well as pig iron and metallurgical coke. The company sells its products to customers in the construction, automotive, energy, appliance, and pipe and tube industries, as well as to various steel service centers.

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