Canada Nickel (CVE:CNC) Shares Up 27.4% – Still a Buy?

Canada Nickel Company Inc. (CVE:CNC)’s stock price traded up 27.4% on Wednesday . The stock traded as high as C$1.37 and last traded at C$1.35. 3,547,607 shares were traded during trading, an increase of 798% from the average session volume of 395,254 shares. The stock had previously closed at C$1.06.

Canada Nickel Stock Performance

The company has a market capitalization of C$312.56 million, a P/E ratio of -14.50 and a beta of -0.82. The business has a 50-day moving average of C$1.01 and a 200-day moving average of C$0.92. The company has a debt-to-equity ratio of 10.24, a current ratio of 0.64 and a quick ratio of 1.20.

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.