Short Interest in Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) Declines By 45.5%

Nicola Mining Inc. – Sponsored ADR (NASDAQ:NICM) was the target of a large decrease in short interest in the month of 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. Based on an average daily volume of 24,631 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NICM. Maxim Group began coverage on shares of Nicola Mining in a research note on Thursday, June 18th. They issued 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. Zacks Research raised shares of Nicola Mining to a “hold” rating in a report on Thursday, May 28th. Finally, Noble Financial upgraded shares of Nicola Mining to a “strong-buy” rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nicola Mining presently has an average rating of “Buy” and an average price target of $12.00.

Nicola Mining Trading Down 0.7%

NICM opened at $6.03 on Friday. The firm has a market cap of $115.26 million and a price-to-earnings ratio of -602.60. Nicola Mining has a one year low of $5.41 and a one year high of $10.60.