Canada Nickel (CVE:CNC) Stock Price Up 27.4% – Here’s Why

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

Canada Nickel Stock Up 9.1%

The company’s fifty day simple moving average is C$1.03 and its 200-day simple moving average is C$0.93. The firm has a market capitalization of C$362.14 million, a PE ratio of -16.80 and a beta of -0.82. The company has a debt-to-equity ratio of 10.24, a current ratio of 0.64 and a quick ratio of 1.20.

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.