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

Key Points

• Short interest fell sharply: Nicola Mining’s short interest declined 40.7% to 7,254 shares as of September 15, representing 2.3 days of average trading volume and 0.0% of shares outstanding.
• Analyst sentiment is moderately positive: Maxim Group initiated coverage with a Buy rating and a $12 price target. Overall, analysts assign the stock a consensus “Moderate Buy” rating with an average target price of $12.00.
• Financial results remain weak: Nicola Mining reported a quarterly loss of $0.01 per share on $0.79 million in revenue, alongside a negative net margin and negative return on equity. Shares opened at $5.68, near the company’s 52-week low of $5.30.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NICM shares. Maxim Group initiated coverage on Nicola Mining in a research note on Thursday, June 18th. They set a "buy" rating and a $12.00 price target on the stock. Weiss Ratings cut Nicola Mining from a "sell (e)" rating to a "sell (e-)" rating in a research note on Tuesday, July 21st. Two equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Nicola Mining Stock Up 2.2%

Shares of NICM stock opened at $5.68 on Wednesday. The firm has a 50-day moving average of $6.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.34 and a quick ratio of 8.34. The firm has a market cap of $108.73 million and a PE ratio of -284.15. Nicola Mining has a 52-week low of $5.30 and a 52-week high of $10.60.

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

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.

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