Canada Nickel (CVE:CNC) Trading 2.4% Higher – Should You Buy?

Canada Nickel Company Inc. (CVE:CNC)’s share price rose 2.4% on Friday . The stock traded as high as C$2.12 and last traded at C$2.10. Approximately 735,877 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,644,477 shares. The stock had previously closed at C$2.05.

Canada Nickel Trading Up 2.4%

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 business has a 50-day simple moving average of C$1.88 and a 200-day simple moving average of C$1.35. The company has a market cap of C$504.09 million, a PE ratio of -16.15 and a beta of 0.55.

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.