Newcrest Mining Limited (OTCMKTS:NCMGY) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 28,100 shares, a drop of 44.1% from the August 15th total of 50,300 shares. Based on an average daily volume of 121,400 shares, the short-interest ratio is currently 0.2 days.
Shares of NCMGY stock traded down $0.50 during mid-day trading on Friday, reaching $17.50. 68,233 shares of the company’s stock traded hands, compared to its average volume of 49,132. The firm has a 50 day moving average price of $18.74 and a two-hundred day moving average price of $19.81. Newcrest Mining has a 12 month low of $17.10 and a 12 month high of $24.43. The company has a current ratio of 2.98, a quick ratio of 2.39 and a debt-to-equity ratio of 0.16.
Separately, Macquarie upgraded Newcrest Mining from a “neutral” rating to an “outperform” rating in a research note on Friday, September 10th.
Newcrest Mining Ltd. engages in the exploration, development, and operations of mines. It operates through the following segments: Cadia, Telfet, Lihir, Gosowong, Bonikro, Hidden Valley, and Exploration and Others. The company was founded in 1990 and is headquartered in Melbourne, Australia.
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