Canada Nickel (CVE:CNC) Shares Up 27.4% – Still a Buy?

Canada Nickel Company Inc. (CVE:CNC)’s share price was up 27.4% during trading on Tuesday . The stock traded as high as C$1.37 and last traded at C$1.35. Approximately 3,547,607 shares changed hands during mid-day 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 27.4%

The company has a debt-to-equity ratio of 10.24, a quick ratio of 1.20 and a current ratio of 0.64. The stock’s fifty day simple moving average is C$1.00 and its two-hundred day simple moving average is C$0.92. The company has a market capitalization of C$291.01 million, a price-to-earnings ratio of -13.50 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.