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

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 23,413 shares, a drop of 45.5% from the May 31st total of 42,940 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 24,631 shares, the days-to-cover ratio is currently 1.0 days.

Nicola Mining Stock Performance

Nicola Mining stock traded down $0.04 during trading hours on Thursday, hitting $6.03. The stock had a trading volume of 1,687 shares, compared to its average volume of 190,893. The stock has a market capitalization of $115.26 million and a PE ratio of -602.60. Nicola Mining has a 12-month low of $5.41 and a 12-month high of $10.60.

Analyst Upgrades and Downgrades

NICM has been the topic of several research analyst reports. Maxim Group began coverage on shares of Nicola Mining in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target on the stock. Noble Financial raised Nicola Mining to a “strong-buy” rating in a research report on Wednesday, May 27th. Zacks Research upgraded Nicola Mining to a “hold” rating in a report on Thursday, May 28th. Finally, Atrium Research raised Nicola Mining to a “strong-buy” rating in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Nicola Mining currently has a consensus rating of “Buy” and a consensus target price of $12.00.