Canada Nickel (CVE:CNC) Trading Up 12.2% - Here's What Happened

Canada Nickel Company Inc. (CVE:CNC - Get Free Report) shares rose 12.2% during mid-day trading on Friday . The stock traded as high as C$1.02 and last traded at C$1.01. Approximately 688,492 shares traded hands during trading, an increase of 175% from the average daily volume of 250,343 shares. The stock had previously closed at C$0.90.

Canada Nickel Stock Up 3.1 %

The business has a 50-day moving average price of C$0.85 and a 200 day moving average price of C$0.96. The company has a current ratio of 0.64, a quick ratio of 1.20 and a debt-to-equity ratio of 10.24. The stock has a market capitalization of C$179.05 million, a P/E ratio of -20.16 and a beta of 2.31.

Insiders Place Their Bets

In related news, Director David Smith purchased 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of C$0.84 per share, for a total transaction of C$42,055.00. Also, Senior Officer Stephen James Balch sold 123,996 shares of Canada Nickel stock in a transaction on Thursday, January 9th. The stock was sold at an average price of C$0.87, for a total transaction of C$107,876.52. Corporate insiders own 14.82% of the company's stock.

Canada Nickel Company Profile

Canada Nickel Company Inc, together with its subsidiaries, engages in the exploration, discovery, and development of nickel sulphide assets. It also develops zero-carbon production of nickel, cobalt, and iron. Its flagship project is the Crawford Nickel project located in northern Ontario, Canada. It serves electric vehicle, green energy, and stainless steel markets.