Versamet Royalties Corporation (NASDAQ:VMET) Sees Large Increase in Short Interest

Versamet Royalties Corporation (NASDAQ:VMET) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 159,785 shares, a growth of 195.2% from the April 15th total of 54,133 shares. Based on an average daily volume of 273,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

Versamet Royalties Stock Down 9.0%

Shares of VMET opened at $11.17 on Friday. Versamet Royalties has a 12 month low of $5.40 and a 12 month high of $15.58. The firm has a market cap of $1.21 billion and a P/E ratio of 58.79.

Versamet Royalties (NASDAQ:VMET) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $23.97 million for the quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VMET shares. Zacks Research upgraded shares of Versamet Royalties to a “hold” rating in a research note on Tuesday, April 7th. BMO Capital Markets raised shares of Versamet Royalties to a “strong-buy” rating in a report on Monday, April 6th. Weiss Ratings began coverage on shares of Versamet Royalties in a research report on Tuesday, April 7th. They set a “sell (e)” rating for the company. Finally, Wall Street Zen raised shares of Versamet Royalties to a “hold” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.