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

Key Points

• Short interest fell 37.6% to 3,251 shares as of October 15, representing approximately 0.0% of Nicola Mining’s outstanding shares and a short-interest ratio of 0.8 days.
• Nicola Mining shares rose 4.6% to $5.23, while trading volume was notably below average. The company has a market capitalization of about $100 million and trades near the lower end of its 12-month range.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $12.00 target price. The company continues to report weak profitability, including a quarterly loss of $0.01 per share and a negative net margin.

Nicola Mining Inc. - Sponsored ADR (NASDAQ:NICM - Get Free Report) was the target of a large decrease in short interest in 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. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 4,050 shares, the short-interest ratio is currently 0.8 days.

Nicola Mining Trading Up 4.6%

Shares of Nicola Mining stock traded up $0.23 during trading on Monday, hitting $5.23. The stock had a trading volume of 573 shares, compared to its average volume of 78,716. The stock has a market capitalization of $100.03 million and a price-to-earnings ratio of -261.45. Nicola Mining has a 12 month low of $4.71 and a 12 month high of $10.60. The company's 50-day moving average price is $5.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.34 and a current ratio of 8.34.

Nicola Mining (NASDAQ:NICM - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.01) EPS for the quarter. The business 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%.

Analyst Upgrades and Downgrades

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

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.

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