Canada Nickel (CVE:CNC) Trading 27.4% Higher – Here’s Why

Shares of Canada Nickel Company Inc. (CVE:CNC) were up 27.4% during mid-day trading on Wednesday . The stock traded as high as C$1.37 and last traded at C$1.35. Approximately 3,547,607 shares changed hands during trading, an increase of 798% from the average daily volume of 395,254 shares. The stock had previously closed at C$1.06.

Canada Nickel Stock Up 7.4%

The business’s 50 day moving average is C$1.01 and its 200 day moving average is C$0.92. The company has a quick ratio of 1.20, a current ratio of 0.64 and a debt-to-equity ratio of 10.24. The company has a market cap of C$312.56 million, a P/E ratio of -14.50 and a beta of -0.82.

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.