First Atlantic Nickel (CVE:FAN) Shares Up 33.3% - Still a Buy?

Key Points

• Shares jumped 33.3% on Thursday, trading as high as C$0.78 and last at C$0.76, with volume of 2,669,701 shares — about a 346% increase versus average session volume.
• First Atlantic Nickel is a Canada-focused mineral explorer targeting nickel, copper, cobalt, silver, gold and molybdenum, with a flagship 100% option to acquire the TL Nickel Project in Labrador.
• The company is a small-cap (market cap ~C$97.8 million) loss-making miner (PE -25.33) with a beta of 2.11, and its 50- and 200-day moving averages are C$0.31 and C$0.25 respectively, indicating volatility.

First Atlantic Nickel Corp. (CVE:FAN - ) shares shot up 33.3% during trading on Thursday . The company traded as high as C$0.78 and last traded at C$0.76. 2,669,701 shares were traded during trading, an increase of 346% from the average session volume of 598,673 shares. The stock had previously closed at C$0.57.

First Atlantic Nickel Stock Up 33.3%

The company has a market capitalization of C$97.80 million, a PE ratio of -25.33 and a beta of 2.11. The stock has a 50-day moving average of C$0.31 and a 200 day moving average of C$0.25.

First Atlantic Nickel Company Profile

First Atlantic Nickel Corp. engages in the identification, evaluation, and acquisition of mineral properties in Canada. It explores for nickel, copper, silver, cobalt, gold, and molybdenum deposits. Its flagship project is the 100% owned option to acquire TL Nickel Project located in the Churchill Province of Labrador, Canada. The company was formerly known as Avante Mining Corp. and changed its name to First Atlantic Nickel Corp. in April 2024. First Atlantic Nickel Corp. was incorporated in 2011 and is headquartered in Vancouver, Canada.

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