Nicola Mining (CVE:NIM) Shares Up 40% - Here's Why

Shares of Nicola Mining Inc. (CVE:NIM - Get Free Report) shot up 40% on Monday . The stock traded as high as C$0.70 and last traded at C$0.70. 274,067 shares changed hands during mid-day trading, an increase of 255% from the average session volume of 77,109 shares. The stock had previously closed at C$0.50.

Analyst Ratings Changes

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

Nicola Mining Price Performance

The firm has a fifty day moving average of C$0.43 and a 200 day moving average of C$0.36. The company has a current ratio of 3.34, a quick ratio of 0.26 and a debt-to-equity ratio of 152.26. The company has a market capitalization of C$140.17 million, a P/E ratio of -22.41 and a beta of 1.14.

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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