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 large decrease in short interest in June. As of June 15th, there was short interest totaling 23,413 shares, a decrease of 45.5% from the May 31st total of 42,940 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 24,631 shares, the short-interest ratio is presently 1.0 days.

Analysts Set New Price Targets

Several research firms have weighed in on NICM. Maxim Group assumed coverage on shares of Nicola Mining in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Atrium Research upgraded shares of Nicola Mining to a “strong-buy” rating in a research report on Monday, June 1st. Noble Financial raised shares of Nicola Mining to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Nicola Mining to a “hold” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $12.00.

Nicola Mining Stock Down 3.5%

Shares of NICM stock traded down $0.22 during trading hours on Wednesday, reaching $6.06. The stock had a trading volume of 2,267 shares, compared to its average volume of 194,399. The stock has a market cap of $115.91 million and a PE ratio of -606.00. Nicola Mining has a twelve month low of $5.41 and a twelve month high of $10.60.