Newcrest Mining Limited (OTCMKTS:NCMGY) Sees Significant Decrease in Short Interest
Newcrest Mining Limited (OTCMKTS:NCMGY) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 8,000 shares, a decline of 75.6% from the December 15th total of 32,800 shares. Based on an average daily volume of 83,900 shares, the short-interest ratio is presently 0.1 days.
Separately, Citigroup upgraded shares of Newcrest Mining from a “neutral” rating to a “buy” rating in a research note on Monday, October 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $23.00.
NCMGY traded up $0.46 on Wednesday, reaching $20.80. The company had a trading volume of 19,259 shares, compared to its average volume of 48,470. Newcrest Mining has a fifty-two week low of $11.55 and a fifty-two week high of $27.16. The company’s fifty day moving average is $20.34 and its 200 day moving average is $22.29. The company has a quick ratio of 2.23, a current ratio of 2.90 and a debt-to-equity ratio of 0.24.
Newcrest Mining Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and gold/copper concentrates. It is also involved in the exploration of silver deposits. The company primarily owns and operates mines and projects located in Cadia and Telfer, Australia; and Lihir, Papua New Guinea.
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