Short Interest in Russel Metals Inc. (OTCMKTS:RUSMF) Decreases By 36.9%

Russel Metals Inc. (OTCMKTS:RUSMF) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 189,519 shares, a decline of 36.9% from the April 15th total of 300,244 shares. Based on an average daily trading volume, of 9,975 shares, the short-interest ratio is currently 19.0 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RUSMF. Royal Bank Of Canada restated an “outperform” rating on shares of Russel Metals in a research note on Friday, February 13th. Scotiabank restated an “outperform” rating on shares of Russel Metals in a research note on Thursday, May 7th. National Bank Financial lowered shares of Russel Metals from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 12th. Finally, TD Securities reiterated a “buy” rating on shares of Russel Metals in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Russel Metals has an average rating of “Moderate Buy”.

Russel Metals Price Performance

Shares of OTCMKTS RUSMF traded up $0.83 during mid-day trading on Monday, hitting $42.78. 1,200 shares of the company were exchanged, compared to its average volume of 16,232. The stock has a 50 day simple moving average of $36.47 and a 200-day simple moving average of $33.72. Russel Metals has a 1-year low of $27.78 and a 1-year high of $43.86.

Russel Metals Company Profile

Russel Metals Inc is one of North America’s leading metal distribution and processing companies, offering a comprehensive range of steel, aluminum, stainless steel, and specialty metal products. Through its extensive network of service centres, the company provides value-added processing such as precision cutting, shearing, burning, drilling, rolling, and plate profiling, alongside inventory management and just-in-time delivery solutions. This integrated model helps industrial, construction, and manufacturing customers optimize supply chains and reduce lead times.

Founded in 1929 and headquartered in Mississauga, Ontario, Russel Metals has grown through organic expansion and strategic acquisitions to establish a broad presence across Canada and the United States.