20 stocks with big changes in short interest: Nickel, lithium and gold miners

Welcome back to the Short Seller Series – where we take a look at some of the most shorted stocks in the ASX and those that have experienced a notable rise and fall in short interest in the past week. 

Short selling data is four days behind today's date as reporting is not mandatory until three business days post trade. The data below refers to short interest for stocks on Friday, 14 April and compares it to data from Friday, 7 April.

Most Shorted Stocks

Every week seems to be the same for the most shorted list – Incremental moves here and there but thematically the same. Compared to last week: 

• Sayona and Core Lithium swapped places

• JB Hi-Fi moved from #12 to #7

• Jervois Global jumped from #17 to #8

Short Risers

Mincor received a $1.40 per share on-market takeover offer from Andrew Forest’s Wyloo Metals earlier this month. Wyloo has been aggressively growing its stake in Mincor, up from 40.8% to 49.7% in the past week and close to crossing the key 50% mark. Mincor management have also recommended shareholders accept the offer. The takeover statement notes that shareholders could opt to vote against the offer if the believe in factors such as:

• Mincor’s ability to convert untested nickel sulphide exploration target into economic deposits

• Delivering on exploration programs to extend mine life

• Being comfortable with being a minority shareholder in an entity controlled by Wyloo 

• A potential superior proposal in the future

There was also a slight increase in short interest among several heavily shorted names like JB Hi-Fi, Megaport, Temple & Webster and Pilbara Minerals.

Short Fallers

A little bit of an incremental week for short fallers. 

• United Malt shorts have effectively vanished following the $5.00 takeover bid from Malteries Soufflet on 28 March

• McMillan Shakespeare shorts after the stock broke out to levels not seen since November 2019 last week

• Minor short interest fall for mid-cap gold developers

What about lithium?

There’s been a lot of talk about how Liontown’s Albemarle bid triggered a short squeeze for lithium stocks. Realistically, not a whole lot has changed.

Here are the lithium shorts and rankings from Wednesday 22 March:

• #2 Core Lithium 10.04% 

• #4 Liontown Resources 8.91%

• #6 Sayona Mining 8.61%

• #13 Vulcan Energy 6.67%

• #18 Lake Resources 6.34%

And where they sit today:

• #4 Sayona 9.26%

• #5 Core Lithium 9.15%

• #13 Vulcan Energy 6.92%

• #14 Lake Resources 6.71%

• #24 Liontown 5.54%