Nicola Mining (CVE:NIM) Shares Up 6.6% – Time to Buy?

Nicola Mining Inc. (CVE:NIM) shares shot up 6.6% during mid-day trading on Thursday . The company traded as high as C$0.84 and last traded at C$0.81. 137,055 shares were traded during trading, a decline of 3% from the average session volume of 141,516 shares. The stock had previously closed at C$0.76.

Analyst Upgrades and Downgrades

Separately, Maxim Group raised Nicola Mining to a “strong-buy” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Nicola Mining presently has an average rating of “Strong Buy”.

Nicola Mining Stock Performance

The company has a debt-to-equity ratio of 5.94, a quick ratio of 0.26 and a current ratio of 8.34. The stock’s 50-day moving average is C$0.71 and its 200 day moving average is C$0.86. The firm has a market cap of C$185.92 million, a P/E ratio of -16.20 and a beta of 0.02.

About Nicola Mining

Nicola Mining Inc, a junior exploration and custom milling company, engages in the identification, acquisition, and exploration of mineral property interests in Canada. The company primarily explores for gold, silver, lead, zinc, and copper deposits. It holds a 100% interest in the Treasure Mountain project comprising 30 mineral claims covering 2,513 hectares, and 1 mineral lease covering an area of approximately 335 hectares located to the northeast of Hope, British Columbia; and the New Craigmont project consisting of 22 contiguous mineral claims covering approximately 10,913 hectares, and 10 mineral leases covering an area of approximately 347 hectares located in the Merritt, British Columbia.