Short Interest in Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) Declines By 34.6%

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 16,009 shares, a drop of 34.6% from the July 30th total of 24,463 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 3,513 shares, the short-interest ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

NICM has been the topic of a number of recent research reports. Noble Financial upgraded shares of Nicola Mining to a “strong-buy” rating in a report on Wednesday, May 27th. Atrium Research raised shares of Nicola Mining to a “strong-buy” rating in a research report on Monday, June 1st. Maxim Group began coverage on shares of Nicola Mining in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Zacks Research raised shares of Nicola Mining to a “hold” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings cut shares of Nicola Mining from a “sell (e)” rating to a “sell (e-)” rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nicola Mining presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Nicola Mining Stock Up 4.1%

Shares of NICM stock traded up $0.27 on Tuesday, reaching $6.79. 888 shares of the stock were exchanged, compared to its average volume of 109,604. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.04. The stock has a market cap of $129.89 million and a PE ratio of -339.50. The stock’s 50 day moving average price is $6.15. Nicola Mining has a 1-year low of $5.32 and a 1-year high of $10.60.

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

About Nicola Mining

Nicola Mining Inc is a junior mining company which maintains a owned mill and tailings facility, located near Merritt, British Columbia. Nicola Mining Inc is based in Vancouver, British Columbia.