Canada Nickel (CVE:CNC) Shares Up 12.2% – Time to Buy?

Canada Nickel Company Inc. (CVE:CNC) shares rose 12.2% during mid-day trading on Friday . The stock traded as high as C$1.02 and last traded at C$1.01. Approximately 688,492 shares were traded during mid-day trading, an increase of 175% from the average daily volume of 250,343 shares. The stock had previously closed at C$0.90.

Canada Nickel Price Performance

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 company has a market cap of C$175.44 million, a price-to-earnings ratio of -19.75 and a beta of 2.31. The business has a fifty day moving average price of C$0.85 and a 200 day moving average price of C$0.96.

Insider Transactions at Canada Nickel

In other news, Director David Smith acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of C$0.84 per share, with a total value of C$42,055.00. Also, Senior Officer Stephen James Balch sold 123,996 shares of the company’s stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of C$0.87, for a total value of C$107,876.52. 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.