Canada Nickel (CVE:CNC) Stock Price Down 5.6% – What’s Next?

Canada Nickel Company Inc. (CVE:CNC)’s share price dropped 5.6% during mid-day trading on Thursday . The company traded as low as C$1.80 and last traded at C$1.84. Approximately 1,339,258 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 2,186,116 shares. The stock had previously closed at C$1.95.

Canada Nickel Stock Performance

The company has a fifty day moving average of C$1.64 and a two-hundred day moving average of C$1.21. The stock has a market capitalization of C$419.63 million, a P/E ratio of -18.40 and a beta of 0.55. The company has a debt-to-equity ratio of 10.24, a current ratio of 0.64 and a quick ratio of 1.20.

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. The company was incorporated in 2019 and is headquartered in Toronto, Canada.