Short Interest in Orica Limited (OTCMKTS:OCLDY) Expands By 129.5%

Orica Limited (OTCMKTS:OCLDY) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,081 shares, an increase of 129.5% from the May 14th total of 471 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 350 shares, the days-to-cover ratio is currently 3.1 days.

Analysts Set New Price Targets

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

Orica Price Performance

Shares of OTCMKTS:OCLDY opened at $16.51 on Friday. Orica has a 12 month low of $12.17 and a 12 month high of $19.00. The company’s 50-day moving average price is $14.96 and its two-hundred day moving average price is $15.80. The firm has a market cap of $7.74 billion and a P/E ratio of 10.10.

Orica Company Profile

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.