Canada Nickel (CVE:CNC) Sets New 12-Month Low – Should You Sell?

Shares of Canada Nickel Company Inc. (CVE:CNC) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$0.94 and last traded at C$0.94, with a volume of 1,083,730 shares traded. The stock had previously closed at C$1.02.

Canada Nickel Trading Down 6.1%

The firm has a market capitalization of C$238.10 million, a price-to-earnings ratio of -8.36 and a beta of 0.67. The business’s fifty day moving average is C$1.31 and its 200 day moving average is C$1.48. The company has a quick ratio of 1.20, a current ratio of 0.22 and a debt-to-equity ratio of 25.85.

Insider Activity

In other Canada Nickel news, insider Stephen James Balch sold 39,456 shares of Canada Nickel stock in a transaction dated Friday, September 11th. The stock was sold at an average price of C$1.42, for a total value of C$56,027.52. Following the sale, the insider owned 311,264 shares of the company’s stock, valued at C$441,994.88. This trade represents a 11.25% decrease in their position. Over the last 90 days, insiders sold 191,997 shares of company stock valued at $292,720. Company insiders own 14.82% of the company’s stock.

About Canada Nickel

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. The company was incorporated in 2019 and is headquartered in Toronto, Canada.