Nicola Mining (CVE:NIM) Shares Up 16% - Here's Why

Nicola Mining Inc. (CVE:NIM - Get Free Report) traded up 16% during trading on Monday . The stock traded as high as C$0.58 and last traded at C$0.58. 200,017 shares were traded during mid-day trading, an increase of 161% from the average session volume of 76,502 shares. The stock had previously closed at C$0.50.

Analyst Upgrades and Downgrades

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

Nicola Mining Trading Up 6.6%

The company has a fifty day simple moving average of C$0.44 and a two-hundred day simple moving average of C$0.37. The company has a quick ratio of 0.26, a current ratio of 3.34 and a debt-to-equity ratio of 152.26. The stock has a market capitalization of C$130.16 million, a P/E ratio of -20.81 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.