Canada Nickel (CVE:CNC) Stock Price Up 1.3% - Still a Buy?

Key Points

• Canada Nickel Company Inc. shares rose by 1.3% to C$0.81 during mid-day trading on Friday, despite a decline in trading volume by 34% compared to the average session.
• The company has a market capitalization of C$169.25 million and key financial ratios indicating high leverage, with a debt-to-equity ratio of 10.24.
• Canada Nickel focuses on the exploration and development of nickel sulphide assets, catering to the electric vehicle and green energy markets through its flagship Crawford Nickel project.

Canada Nickel Company Inc. (CVE:CNC - Get Free Report)'s stock price shot up 1.3% during trading on Friday . The stock traded as high as C$0.81 and last traded at C$0.81. 207,060 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 314,291 shares. The stock had previously closed at C$0.80.

Canada Nickel Stock Performance

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 stock has a fifty day moving average price of C$0.83 and a two-hundred day moving average price of C$0.90. The company has a market cap of C$173.43 million, a P/E ratio of -11.86 and a beta of -0.96.

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.