Canada Nickel (CVE:CNC) Stock Price Up 12.2% – Should You Buy?

Canada Nickel Company Inc. (CVE:CNC) shares rose 12.2% during mid-day trading on Friday . The company traded as high as C$1.02 and last traded at C$1.01. Approximately 688,492 shares changed hands during trading, an increase of 175% from the average daily volume of 250,343 shares. The stock had previously closed at C$0.90.

Canada Nickel Stock Up 11.1 %

The company has a debt-to-equity ratio of 10.24, a current ratio of 0.64 and a quick ratio of 1.20. The company has a market capitalization of C$180.86 million, a P/E ratio of -20.37 and a beta of 2.31. The stock has a 50-day moving average price of C$0.85 and a 200-day moving average price of C$0.96.

Insider Buying and Selling

In related news, Senior Officer Stephen James Balch sold 123,996 shares of the firm’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of C$0.87, for a total transaction of C$107,876.52. Also, Director David Smith acquired 50,000 shares of Canada Nickel stock in a transaction on Tuesday, January 28th. The stock was purchased at an average cost of C$0.84 per share, with a total value of C$42,055.00. 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.