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

Key Points

• Short interest fell 34.6% to 16,009 shares as of August 14, representing about 0.1% of Nicola Mining’s outstanding stock and 4.6 days to cover.
• NICM shares rose 4.1% to $6.79, while the company reported a quarterly loss of $0.01 per share, $0.79 million in revenue, and a negative net margin of 252.4%.
• Analyst sentiment is generally positive, with an average “Moderate Buy” rating and a consensus price target of $12.00, although ratings range from Strong Buy to Sell.

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

Nicola Mining Trading Up 4.1%

Shares of NICM stock traded up $0.27 during mid-day trading on Tuesday, reaching $6.79. The stock had a trading volume of 888 shares, compared to its average volume of 109,604. The firm has a market capitalization of $129.89 million and a P/E ratio of -339.50. 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 has a 12-month low of $5.32 and a 12-month high of $10.60. The firm's 50-day moving average is $6.15.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on NICM. Noble Financial upgraded shares of Nicola Mining to a "strong-buy" rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded shares of Nicola Mining from a "sell (e)" rating to a "sell (e-)" rating in a research report on Tuesday, July 21st. Atrium Research upgraded shares of Nicola Mining to a "strong-buy" rating in a research note on Monday, June 1st. Maxim Group initiated coverage on Nicola Mining in a report on Thursday, June 18th. They set a "buy" rating and a $12.00 price target for the company. Finally, Zacks Research upgraded shares of Nicola Mining to a "hold" rating in a research report on Thursday, May 28th. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Nicola Mining Company Profile

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.

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