Canada Nickel (CVE:CNC) Shares Down 5.6% – Here’s Why

Canada Nickel Company Inc. (CVE:CNC)’s stock price was down 5.6% during trading on Thursday . The stock traded as low as C$1.80 and last traded at C$1.84. Approximately 1,339,258 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,186,116 shares. The stock had previously closed at C$1.95.

Canada Nickel Trading Down 5.6%

The company’s fifty day simple moving average is C$1.64 and its two-hundred day simple moving average is C$1.21. The company has a market capitalization of C$419.63 million, a price-to-earnings ratio of -18.40 and a beta of 0.55. The company has a quick ratio of 1.20, a current ratio of 0.64 and a debt-to-equity ratio of 10.24.

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.