Canada Nickel (CVE:CNC) Stock Price Down 1.6% – What’s Next?

Canada Nickel Company Inc. (CVE:CNC)’s stock price dropped 1.6% on Monday. The company traded as low as C$1.20 and last traded at C$1.21. Approximately 335,708 shares traded hands during trading, a decline of 57% from the average daily volume of 781,117 shares. The stock had previously closed at C$1.23.

Canada Nickel Price Performance

The company has a 50-day moving average of C$1.45 and a 200 day moving average of C$1.52. The company has a quick ratio of 1.20, a current ratio of 0.22 and a debt-to-equity ratio of 25.85. The stock has a market capitalization of C$313.15 million, a PE ratio of -11.00 and a beta of 0.35.

Insider Activity at Canada Nickel

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