Short Interest In Nextsource Materials Inc. (OTCMKTS:NSRCF) Drops By 25.2%

NextSource Materials Inc. (OTCMKTS:NSRCF – Get Rating) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 178,400 shares, a decline of 25.2% from the May 15th total of 238,500 shares. Based on an average daily volume of 24,800 shares, the short-interest ratio is currently 7.2 days.
Separately, BMO Capital Markets reduced their price target on shares of NextSource Materials from C$7.00 to C$6.00 in a research report on Thursday, May 26th.
NSRCF traded down $0.04 during midday trading on Wednesday, hitting $1.64. The company had a trading volume of 3,192 shares, compared to its average volume of 24,390. NextSource Materials has a 52-week low of $1.38 and a 52-week high of $3.85. The stock’s fifty day moving average price is $2.21 and its 200-day moving average price is $2.68. The company has a market capitalization of $163.58 million, a PE ratio of -2.88 and a beta of 1.52.
NextSource Materials Company Profile (Get Rating)
NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its principal mineral property is the Molo graphite mine that includes 2,119 permits covering an area of 827.7 square kilometers located in Southern Madagascar Region, Madagascar.