Nickel Mines Limited (OTCMKTS:NICMF) Sees Large Growth in Short Interest

Nickel Mines Limited (OTCMKTS:NICMF – Get Rating) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,086,800 shares, an increase of 22.0% from the March 15th total of 890,800 shares. Based on an average trading volume of 26,600 shares, the days-to-cover ratio is currently 40.9 days.

Shares of Nickel Mines stock traded down $0.03 during midday trading on Tuesday, reaching $0.91. 8,295 shares of the company’s stock traded hands, compared to its average volume of 19,177. The stock has a 50 day moving average of $1.00 and a 200-day moving average of $0.95. Nickel Mines has a 12 month low of $0.01 and a 12 month high of $1.29.

Separately, Canaccord Genuity Group upgraded Nickel Mines from a “hold” rating to a “buy” rating in a report on Thursday, April 14th.

Nickel Mines Company Profile (Get Rating)

Nickel Mines Limited engages in nickel ore mining and nickel pig iron production operations in Singapore and Indonesia. The company holds an 80% interest in the Hengjaya Mine that covers an area of 5,983 hectares located in the Morowali Regency of Central Sulawesi; 80% interest in the Ranger Nickel project; and 70% interest in the Angel Nickel project.

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