Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) Sees Significant Decline in Short Interest

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

Nicola Mining Trading Down 0.5%

NASDAQ NICM opened at $6.60 on Thursday. The company has a market capitalization of $126.24 million and a PE ratio of -330.00. Nicola Mining has a 12 month low of $5.32 and a 12 month high of $10.60. The business has a 50-day moving average of $6.17. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.04.

Nicola Mining (NASDAQ:NICM) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. The company 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NICM shares. Zacks Research upgraded Nicola Mining to a “hold” rating in a report on Thursday, May 28th. Noble Financial upgraded Nicola Mining to a “strong-buy” rating in a research report on Wednesday, May 27th. Maxim Group initiated coverage on shares of Nicola Mining in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Atrium Research upgraded shares of Nicola Mining to a “strong-buy” rating in a research report on Monday, June 1st. Finally, Weiss Ratings downgraded shares of 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 given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nicola Mining presently has an average rating of “Moderate Buy” and an average target price of $12.00.

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.