Short Interest in NexMetals Mining Corp. (NASDAQ:NEXM) Drops By 39.7%

Key Points

• NexMetals Mining Corp. (NASDAQ:NEXM) experienced a 39.7% decrease in short interest in September, dropping from 143,500 shares to 86,600 shares.
• Despite the decrease in short interest, research firms have issued predominately negative ratings, with a consensus rating of "Sell" for NexMetals Mining.
• The stock's current trading price is $5.56, showing a range fluctuation with a 1-year low of $3.88 and a high of $12.00.

NexMetals Mining Corp. (NASDAQ:NEXM - Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 86,600 shares, a decrease of 39.7% from the August 31st total of 143,500 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 86,500 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 86,500 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research firms have recently issued reports on NEXM. Weiss Ratings reissued a "sell (e+)" rating on shares of NexMetals Mining in a report on Saturday, September 27th. Wall Street Zen raised NexMetals Mining to a "sell" rating in a research note on Saturday, August 16th. Finally, Zacks Research raised NexMetals Mining to a "strong sell" rating in a research note on Tuesday, September 23rd. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, NexMetals Mining has a consensus rating of "Sell".

NexMetals Mining Price Performance

Shares of NEXM stock traded down $0.14 during mid-day trading on Friday, reaching $5.56. 68,454 shares of the stock traded hands, compared to its average volume of 59,214. NexMetals Mining has a 1-year low of $3.88 and a 1-year high of $12.00.

About NexMetals Mining

North American Nickel Inc operates as a mineral exploration and resource development company. The company engages in the exploration and development of mineral properties in Morocco and Canada, as well as in Botswana. Its principal asset is the Maniitsoq nickel-copper-cobalt-precious metal sulphide project covering an area of 3,048 square kilometers located in southwest Greenland.

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