Nicola Mining (CVE:NIM) Stock Price Up 40% - Time to Buy?

Nicola Mining Inc. (CVE:NIM - Get Free Report)'s stock price rose 40% during trading on Tuesday . The stock traded as high as C$0.70 and last traded at C$0.70. Approximately 274,067 shares traded hands 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 raised shares of Nicola Mining to a "strong-buy" rating in a research report on Thursday, May 8th.

Nicola Mining Price Performance

The stock has a market cap of C$128.15 million, a PE ratio of -20.49 and a beta of 1.14. The firm's fifty day moving average price is C$0.43 and its 200 day moving average price is 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.

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.