Nicola Mining (CVE:NIM) Hits New 1-Year High - Here's Why

Key Points

• Nicola Mining Inc. (CVE:NIM) reached a new 52-week high at C$0.84, closing at C$0.79 with a significant trading volume of 60,881 shares.
• Noble Financial upgraded Nicola Mining to a "strong-buy" rating, suggesting positive growth prospects for the company.
• The company focuses on exploring minerals such as gold and silver and holds substantial property interests in British Columbia, including two key projects covering a total of over 13,000 hectares.

Nicola Mining Inc. (CVE:NIM - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as C$0.84 and last traded at C$0.79, with a volume of 60881 shares. The stock had previously closed at C$0.77.

Analysts Set New Price Targets

Separately, Noble Financial raised shares of Nicola Mining to a "strong-buy" rating in a report on Thursday, May 8th.

Nicola Mining Stock Performance

The business has a 50 day moving average of C$0.52 and a 200 day moving average of C$0.40. The company has a market capitalization of C$158.19 million, a P/E ratio of -25.29 and a beta of 1.14. The company has a quick ratio of 0.26, a current ratio of 3.34 and a debt-to-equity ratio of 152.26.

Nicola Mining Company Profile

Nicola Mining Inc, a junior exploration and custom milling company, engages in the identification, acquisition, and exploration of mineral property interests in Canada. The company primarily explores for gold, silver, lead, zinc, and copper deposits. It holds a 100% interest in the Treasure Mountain project comprising 30 mineral claims covering 2,513 hectares, and 1 mineral lease covering an area of approximately 335 hectares located to the northeast of Hope, British Columbia; and the New Craigmont project consisting of 22 contiguous mineral claims covering approximately 10,913 hectares, and 10 mineral leases covering an area of approximately 347 hectares located in the Merritt, British Columbia.

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