Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) Sees Large Drop in Short Interest

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 3,251 shares, a decrease of 37.6% from the September 30th total of 5,214 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,050 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Nicola Mining from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nicola Mining has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Nicola Mining Price Performance

NASDAQ NICM traded up $0.23 on Monday, reaching $5.23. 573 shares of the company’s stock traded hands, compared to its average volume of 78,716. The firm has a market cap of $100.03 million and a PE ratio of -261.45. Nicola Mining has a 12 month low of $4.71 and a 12 month high of $10.60. The stock has a 50-day moving average price of $5.78. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.04.

Nicola Mining (NASDAQ:NICM) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Nicola Mining had a negative net margin of 252.40% and a negative return on equity of 11,567.20%. The business had revenue of $0.79 million during the quarter.

About Nicola Mining

Nicola Mining Inc is a Canadian junior mining company focused on the exploration, development and operation of mineral properties in British Columbia. Its portfolio includes the New Craigmont copper project near Merritt and the Treasure Mountain silver-lead-zinc property in the Similkameen Mining Division.

The company also owns and operates the Merritt Mill, a permitted processing facility near Merritt, British Columbia. The mill is designed to process mineralized material from the company’s properties and qualifying third-party sources.