Canada Nickel (CVE:CNC) Hits New 12-Month Low – Here’s What Happened

Canada Nickel Company Inc. (CVE:CNC) shares reached a new 52-week low during trading on Thursday. The stock traded as low as C$0.94 and last traded at C$0.94, with a volume of 1,083,730 shares trading hands. The stock had previously closed at C$1.02.

Canada Nickel Stock Down 3.9%

The firm has a fifty day simple moving average of C$1.34 and a 200 day simple moving average of C$1.49. 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 company has a market cap of C$253.62 million, a PE ratio of -8.91 and a beta of 0.67.

Insider Transactions at Canada Nickel

In related news, insider Stephen James Balch sold 39,456 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of C$1.42, for a total transaction of C$56,027.52. Following the completion of the transaction, the insider owned 311,264 shares of the company’s stock, valued at approximately C$441,994.88. This represents a 11.25% decrease in their ownership of the stock. Insiders have sold 191,997 shares of company stock valued at $292,720 in the last ninety days. 14.82% of the stock is currently owned by insiders.

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.