Nicola Mining (CVE:NIM) Trading 40% Higher - Time to Buy?

Nicola Mining Inc. (CVE:NIM - Get Free Report) shares shot up 40% during mid-day trading on Monday . The company traded as high as C$0.70 and last traded at C$0.70. 274,067 shares were traded 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 Analysts Forecast Growth

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

Nicola Mining Stock Up 6.6%

The firm has a 50 day moving average of C$0.44 and a 200 day moving average of C$0.37. The firm has a market cap of C$130.16 million, a price-to-earnings ratio of -20.81 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.

About Nicola Mining

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.