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

Nickel Mines Limited (OTCMKTS:NICMFGet Rating) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,086,800 shares, a growth of 22.0% from the March 15th total of 890,800 shares. Based on an average daily trading volume, of 26,600 shares, the short-interest ratio is currently 40.9 days.

OTCMKTS:NICMF traded down $0.03 during mid-day trading on Tuesday, hitting $0.91. The stock had a trading volume of 8,295 shares, compared to its average volume of 19,177. The company has a 50 day simple moving average of $1.00 and a 200-day simple moving average of $0.95. Nickel Mines has a 52 week low of $0.01 and a 52 week high of $1.29.

Separately, Canaccord Genuity Group raised shares of 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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