Newcrest Mining Limited (OTCMKTS:NCMGY) Sees Significant Decrease in Short Interest

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Newcrest Mining Limited (OTCMKTS:NCMGY) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 8,000 shares, a decrease of 75.6% from the December 15th total of 32,800 shares. Based on an average daily trading volume, of 83,900 shares, the days-to-cover ratio is currently 0.1 days.

NCMGY stock traded up $0.46 during mid-day trading on Wednesday, reaching $20.80. 19,259 shares of the stock traded hands, compared to its average volume of 48,470. The company has a quick ratio of 2.23, a current ratio of 2.90 and a debt-to-equity ratio of 0.24. Newcrest Mining has a 52 week low of $11.55 and a 52 week high of $27.16. The business has a 50-day moving average of $20.34 and a two-hundred day moving average of $22.29.

Separately, Citigroup upgraded shares of Newcrest Mining from a “neutral” rating to a “buy” rating in a report on Monday, October 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Newcrest Mining has an average rating of “Hold” and an average target price of $23.00.

About Newcrest Mining

Newcrest Mining Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and gold/copper concentrates. It is also involved in the exploration of silver deposits. The company primarily owns and operates mines and projects located in Cadia and Telfer, Australia; and Lihir, Papua New Guinea.

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