Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) Short Interest Update

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 7,254 shares, a drop of 40.7% from the August 31st total of 12,225 shares. Based on an average trading volume of 3,124 shares, the short-interest ratio is currently 2.3 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NICM. Weiss Ratings lowered shares of Nicola Mining from a “sell (e)” rating to a “sell (e-)” rating in a research note on Tuesday, July 21st. Maxim Group started coverage on Nicola Mining in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Nicola Mining Stock Performance

Nicola Mining stock opened at $5.68 on Wednesday. The firm has a market capitalization of $108.73 million and a P/E ratio of -284.15. Nicola Mining has a one year low of $5.30 and a one year high of $10.60. The firm has a fifty day simple moving average of $6.15. 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 posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $0.79 million for the quarter. Nicola Mining had a negative return on equity of 11,567.20% and a negative net margin of 252.40%.

Nicola Mining Company Profile

Nicola Mining Inc is a Canadian resource company focused on the exploration and development of mineral properties in British Columbia. Its portfolio includes the New Craigmont Copper Project near Merritt, British Columbia, a historical copper-producing property that the company is evaluating for potential future development.

The company also owns and operates the Merritt Mill, a permitted processing facility in British Columbia. The mill is designed to process material from the company’s properties and third-party sources, with a focus on producing precious-metal concentrates.