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

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 23,413 shares, a drop of 45.5% from the May 31st total of 42,940 shares. Based on an average trading volume of 24,631 shares, the short-interest ratio is presently 1.0 days. Approximately 0.1% of the company’s shares are short sold.

Nicola Mining Price Performance

NICM traded down $0.22 during trading on Wednesday, hitting $6.06. The company had a trading volume of 2,267 shares, compared to its average volume of 194,399. Nicola Mining has a 1-year low of $5.41 and a 1-year high of $10.60. The stock has a market capitalization of $115.91 million and a PE ratio of -606.00.

Wall Street Analyst Weigh In

Several analysts have issued reports on NICM shares. Noble Financial raised shares of Nicola Mining to a “strong-buy” rating in a research report on Wednesday, May 27th. Atrium Research raised shares of Nicola Mining to a “strong-buy” rating in a report on Monday, June 1st. Maxim Group initiated coverage on shares of Nicola Mining in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Research raised shares of Nicola Mining to a “hold” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.00.