Canada Nickel (CVE:CNC) Stock Falls 1.6% – Here’s What Happened

Canada Nickel Company Inc. (CVE:CNC)’s stock price traded down 1.6% during mid-day trading on Monday. The stock traded as low as C$1.20 and last traded at C$1.21. Approximately 335,708 shares were traded during trading, a decline of 57% from the average daily volume of 781,117 shares. The stock had previously closed at C$1.23.

Canada Nickel Price Performance

The stock has a market capitalization of C$295.03 million, a P/E ratio of -10.36 and a beta of 0.67. The company has a debt-to-equity ratio of 25.85, a quick ratio of 1.20 and a current ratio of 0.22. The stock has a 50-day simple moving average of C$1.45 and a 200 day simple moving average of C$1.52.

Insider Activity

In other news, insider Stephen James Balch sold 77,541 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of C$1.65, for a total transaction of C$127,942.65. Following the transaction, the insider owned 64,816 shares of the company’s stock, valued at C$106,946.40. This represents a 54.47% decrease in their ownership of the stock. Insiders sold a total of 191,997 shares of company stock worth $292,720 over the last quarter. Corporate insiders own 14.82% of the company’s stock.

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. The company was incorporated in 2019 and is headquartered in Toronto, Canada.