Short Interest in NextSource Materials Inc. (OTCMKTS:NSRCF) Drops By 40.4%

NextSource Materials Inc. (OTCMKTS:NSRCF) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 58,900 shares, a decline of 40.4% from the June 15th total of 98,800 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is currently 2.5 days.

NextSource Materials Stock Performance

Shares of NSRCF stock traded up $0.02 on Friday, hitting $0.64. 27,863 shares of the stock traded hands, compared to its average volume of 31,236. The firm’s 50-day moving average price is $0.60 and its two-hundred day moving average price is $0.61. The stock has a market capitalization of $99.70 million, a PE ratio of -15.58 and a beta of 1.19. NextSource Materials has a twelve month low of $0.45 and a twelve month high of $1.42.

NextSource Materials (OTCMKTS:NSRCF) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised shares of NextSource Materials to a “hold” rating in a report on Tuesday, May 7th.

NextSource Materials Company Profile

NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar. The company was formerly known as Energizer Resources Inc The company was founded in 2004 and is headquartered in Toronto, Canada.