Russel Metals Inc. (OTCMKTS:RUSMF) Short Interest Update

Russel Metals Inc. (OTCMKTS:RUSMF) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 563,505 shares, a growth of 183.8% from the May 14th total of 198,561 shares. Based on an average daily volume of 14,224 shares, the days-to-cover ratio is currently 39.6 days.

Russel Metals Stock Performance

Shares of OTCMKTS RUSMF traded down $0.25 during midday trading on Friday, hitting $44.00. The stock had a trading volume of 17,163 shares, compared to its average volume of 16,274. Russel Metals has a 1-year low of $27.78 and a 1-year high of $45.91. The company has a fifty day moving average price of $40.22 and a 200 day moving average price of $35.73.

Analyst Ratings Changes

RUSMF has been the topic of several analyst reports. National Bank Financial cut shares of Russel Metals from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 12th. Royal Bank Of Canada reissued 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 report on Thursday, May 7th. Finally, TD Securities reaffirmed a “buy” rating on shares of Russel Metals in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

About Russel Metals

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.