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

Versamet Royalties Corporation (NASDAQ:VMET) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 315,852 shares, an increase of 73.3% from the May 31st total of 182,232 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 263,450 shares, the short-interest ratio is presently 1.2 days.

Versamet Royalties Stock Performance

Shares of Versamet Royalties stock traded down $1.12 on Thursday, hitting $11.67. The stock had a trading volume of 189,834 shares, compared to its average volume of 143,225. Versamet Royalties has a one year low of $5.40 and a one year high of $15.58. The firm has a 50-day moving average of $12.13. The firm has a market cap of $1.27 billion and a PE ratio of 36.48.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Versamet Royalties to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings initiated coverage on Versamet Royalties in a research note on Tuesday, April 7th. They set a “sell (e)” rating on the stock. BMO Capital Markets upgraded Versamet Royalties to a “strong-buy” rating in a report on Monday, April 6th. Finally, Zacks Research raised Versamet Royalties to a “hold” rating in a research note on Tuesday, April 7th. One investment 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. According to data from MarketBeat.com, Versamet Royalties currently has a consensus rating of “Hold”.