Noranda Aluminum Holding Corp. sees significant decline in short interest (NOR)

Noranda Aluminum Holding Corp. saw a large decline in short interest in March. As of March 31st, there was short interest totalling 1,154,419 shares, a decline of 38.5% from the March 14th total of 1,876,653 shares, AnalystRatings.NET reports. Based on an average daily volume of 1,036,880 shares, the short-interest ratio is presently 1.1 days. Approximately 1.7% of the shares of the stock are short sold.

NOR has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Noranda Aluminum Holding Corp. in a research note on Thursday. They now have a $4.20 price target on the stock. Analysts at TheStreet downgraded shares of Noranda Aluminum Holding Corp. from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.15.

Noranda Aluminum Holding Corp. opened at 3.73 on Monday. Noranda Aluminum Holding Corp. has a 52-week low of $2.21 and a 52-week high of $5.08. The stock has a 50-day moving average of $4.26 and a 200-day moving average of $3.36. The company’s market cap is $255.5 million.

Noranda Aluminum Holding Corp. last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.20) by $0.04. The company had revenue of $311.60 million for the quarter, compared to the consensus estimate of $319.48 million. During the same quarter last year, the company posted ($0.02) earnings per share. Noranda Aluminum Holding Corp.’s revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that Noranda Aluminum Holding Corp. will post $-0.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 28th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 1st.

Noranda Aluminum Holding Corporation is a North American integrated producer of aluminum products and rolled aluminum coils.