Canada Nickel (CVE:CNC) Shares Down 5.6% – Here’s Why

Canada Nickel Company Inc. (CVE:CNC)’s stock price was down 5.6% during mid-day trading on Thursday . The company traded as low as C$1.80 and last traded at C$1.84. Approximately 1,339,258 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 2,186,116 shares. The stock had previously closed at C$1.95.

Canada Nickel Stock Up 4.3%

The company has a current ratio of 0.64, a quick ratio of 1.20 and a debt-to-equity ratio of 10.24. The stock has a market capitalization of C$437.88 million, a P/E ratio of -19.20 and a beta of 0.55. The stock’s 50 day simple moving average is C$1.65 and its 200 day simple moving average is C$1.22.

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.