Canada Nickel (CVE:CNC) Trading 12.2% Higher – What’s Next?

Canada Nickel Company Inc. (CVE:CNC)’s share price shot up 12.2% on Friday . The stock traded as high as C$1.02 and last traded at C$1.01. 688,492 shares changed hands during mid-day trading, an increase of 175% from the average session volume of 250,343 shares. The stock had previously closed at C$0.90.

Canada Nickel Stock Performance

The company has a 50-day moving average of C$0.85 and a 200-day moving average of C$0.96. The firm has a market capitalization of C$175.44 million, a P/E ratio of -19.75 and a beta of 2.31. The company has a current ratio of 0.64, a quick ratio of 1.20 and a debt-to-equity ratio of 10.24.

Insider Buying and Selling

In other news, Senior Officer Stephen James Balch sold 123,996 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of C$0.87, for a total value of C$107,876.52. Also, Director David Smith acquired 50,000 shares of Canada Nickel stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average cost of C$0.84 per share, for a total transaction of C$42,055.00. 14.82% of the stock is owned by insiders.

Canada Nickel Company Profile

Canada Nickel Company Inc, together with its subsidiaries, engages in the exploration, discovery, and development of nickel sulphide assets. It also develops zero-carbon production of nickel, cobalt, and iron. Its flagship project is the Crawford Nickel project located in northern Ontario, Canada. It serves electric vehicle, green energy, and stainless steel markets.