Short Selling: Shorters continue to pile into lithium companies, uranium shorts rise
Pilbara Minerals, Core Lithium and Sayona Mining remain some of the most shorted names on the ASX.
Source: iStock
Mentioned
KEY POINTS
- The top three most shorted stocks remain unchanged compared to a month ago: Pilbara Minerals, Syrah Resources and Core Lithium
- Short interest is beginning to rise in notable uranium developers Deep Yellow and Peninsula Energy
- Shorts continue to unwind in beaten up names like Mesoblast, Appen and Arafura Rare Earths
Welcome back to the Short Seller Series – A recap of the most heavily shorted stocks on the ASX as well as those that have experienced significant shorting interest over the past month.
Short selling data is four days behind today's date because reporting is not mandatory until three business days after the trade. The tables below compare short interest changes between 6 December 2023 and 9 January 2024.
The Most Shorted Stocks
Shorters continue to target both lithium producers and developers – A theme that is consistent with the current downward spiral in lithium prices.
A few uranium names like Deep Yellow and Peninsula Energy are also debuting in the top ten list (which is a little strange given the recent surge in uranium equities).
Ticker | Company | Short % | MoM % Chg |
|---|---|---|---|
Pilbara Minerals | 21.18% | 0.73% | |
Syrah Resources | 15.13% | 0.82% | |
Core Lithium | 13.82% | 2.46% | |
Deep Yellow | 10.27% | 3.12% | |
Sayona Mining | 9.96% | 1.11% | |
Peninsula Energy | 9.55% | 2.52% | |
Idp Education | 9.54% | -0.01% | |
Genesis Minerals | 8.86% | -1.25% | |
Flight Centre | 8.81% | -0.10% | |
Liontown Resources | 8.33% | 1.49% |
Stocks with Rising Short Interest
It's interesting to see short interest rise in Peninsula Energy, a $175 million market cap uranium developer which is seeking to restart production at its Lance Project in the US. A $50 million placement was completed in late November at 7.5 cents per share or a 38% discount to pre-raise prices. The stock has almost doubled off its 21 November 2023 low of 7.6 cents.
Where Are Shorters Covering
Short covering data tends to reflect one of two narratives:
Stocks that have been sold to oblivion (e.g. Mesoblast, Appen, Arafura Rare Earths)
Stocks that have bottomed or rallied hard in recent weeks (e.g. Elevate Uranium, Iress and Lendlease).
Ticker | Company | Short % | MoM % Chg |
|---|---|---|---|
Mesoblast | 2.26% | -3.52% | |
Strike Energy | 2.63% | -3.42% | |
Appen | 3.31% | -3.04% | |
Elevate Uranium | 1.20% | -1.86% | |
Link Administration | 0.42% | -1.85% | |
Bank of Queensland | 6.34% | -1.83% | |
Arafura Rare Earths | 3.17% | -1.75% | |
Iress | 2.09% | -1.68% | |
Lendlease | 1.83% | -1.68% | |
Genesis Minerals | 8.86% | -1.25% | |
Boss Energy | 2.21% | -1.24% | |
AMP | 1.45% | -1.17% | |
HMC Capital | 1.04% | -1.16% | |
Magellan | 0.79% | -1.09% | |
Domain | 1.40% | -1.06% | |
Healius | 2.89% | -1.05% | |
Cromwell Property | 0.68% | -1.03% | |
Super Retail | 3.78% | -1.00% | |
Pinnacle Investment Management | 1.30% | -1.00% |
