Canada Nickel (CVE:CNC) Reaches New 52-Week Low – Should You Sell?

Shares of Canada Nickel Company Inc. (CVE:CNC) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$0.91 and last traded at C$0.94, with a volume of 214,609 shares. The stock had previously closed at C$0.95.

Canada Nickel Price Performance

The company has a current ratio of 0.22, a quick ratio of 1.20 and a debt-to-equity ratio of 25.85. The business’s fifty day moving average is C$1.19 and its 200 day moving average is C$1.53. The company has a market cap of C$243.27 million, a P/E ratio of -8.55 and a beta of 0.53.

Insider Buying and Selling

In other news, insider Stephen James Balch sold 75,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of C$1.45, for a total transaction of C$108,750.00. Following the completion of the transaction, the insider owned 350,720 shares of the company’s stock, valued at approximately C$508,544. The trade was a 17.62% decrease in their ownership of the stock. 14.82% of the stock is currently owned by insiders.

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.