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

Nicola Mining Inc. (CVE:NIM - Get Free Report) shares shot up 40% during trading on Monday . The company 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.

Wall Street Analyst Weigh In

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

Nicola Mining Stock Up 6.6%

The company has a debt-to-equity ratio of 152.26, a current ratio of 3.34 and a quick ratio of 0.26. The company has a market capitalization of C$130.16 million, a P/E ratio of -20.81 and a beta of 1.14. The company has a 50 day moving average of C$0.44 and a 200-day moving average of C$0.37.

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.