Canada Nickel (CVE:CNC) Shares Down 5.6% – Should You Sell?

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

Canada Nickel Price Performance

The company has a 50-day moving average of C$1.64 and a 200-day moving average of C$1.21. The company has a debt-to-equity ratio of 10.24, a quick ratio of 1.20 and a current ratio of 0.64. The firm has a market capitalization of C$419.63 million, a price-to-earnings ratio of -18.40 and a beta of 0.55.

About Canada Nickel

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.