Nicola Mining (CVE:NIM) Shares Up 40% - What's Next?

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

Wall Street Analyst Weigh In

Separately, Noble Financial upgraded shares of 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 quick ratio of 0.26, a current ratio of 3.34 and a debt-to-equity ratio of 152.26. The stock's 50 day moving average price is C$0.44 and its 200-day moving average price is C$0.37. 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.