Short Interest in Orica Limited (OTCMKTS:OCLDY) Drops By 53.2%

Orica Limited (OTCMKTS:OCLDY) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 506 shares, a decrease of 53.2% from the May 31st total of 1,081 shares. Based on an average trading volume of 135 shares, the days-to-cover ratio is presently 3.7 days. Currently, 0.0% of the company’s shares are short sold.

Orica Stock Performance

Shares of Orica stock opened at $16.90 on Wednesday. The company has a fifty day moving average price of $15.58 and a 200 day moving average price of $15.87. Orica has a twelve month low of $12.40 and a twelve month high of $19.00. The stock has a market cap of $7.92 billion and a price-to-earnings ratio of 10.10.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Orica to a “hold” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

About Orica

Orica Limited is a leading global provider of commercial explosives and blasting systems to the mining, quarrying and construction industries. Headquartered in Melbourne, Australia, the company designs, manufactures and distributes a comprehensive range of bulk and packaged explosives, initiating systems, detonators and digital blasting solutions. Its offerings include ground support products, ventilation systems in underground mining and specialty chemicals that support safe and efficient rock fragmentation and material handling.

In addition to explosives, Orica supplies sodium cyanide for gold extraction, bulk emulsions and specialty ammonium nitrate products.