FPX Nickel (CVE:FPX) Shares Down 3% – Here’s Why

Shares of FPX Nickel Corp. (CVE:FPX) dropped 3% during trading on Monday . The company traded as low as C$0.33 and last traded at C$0.33. Approximately 29,578 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 94,997 shares. The stock had previously closed at C$0.34.

FPX Nickel Trading Down 3.0%

The firm has a market capitalization of C$102.65 million, a price-to-earnings ratio of -16.25 and a beta of 0.82. The company has a fifty day moving average price of C$0.35 and a two-hundred day moving average price of C$0.43. The company has a current ratio of 14.56, a quick ratio of 8.25 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In related news, insider Allyn Knoche bought 113,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of C$0.35 per share, for a total transaction of C$39,550.00. Following the acquisition, the insider directly owned 39,031,624 shares in the company, valued at C$13,661,068.40. This represents a 0.29% increase in their ownership of the stock. Company insiders own 25.90% of the company’s stock.

About FPX Nickel

FPX Nickel Corp., a junior nickel mining company, engages in the acquisition, exploration, and development of mineral resource properties in Canada. Its flagship property is Baptiste Nickel project located in Decar Nickel District in central British Columbia. The company was formerly known as First Point Minerals Corp. and changed its name to FPX Nickel Corp. in May 2017. FPX Nickel Corp. was incorporated in 1995 and is headquartered in Vancouver, Canada.