Nicola Mining (CVE:NIM) Shares Up 6% – Still a Buy?

Nicola Mining Inc. (CVE:NIM)’s share price shot up 6% during trading on Wednesday . The stock traded as high as C$0.71 and last traded at C$0.71. 83,625 shares changed hands during trading, a decline of 43% from the average session volume of 145,498 shares. The stock had previously closed at C$0.67.

Wall Street Analyst Weigh In

Separately, Maxim Group raised shares of Nicola Mining to a “strong-buy” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Nicola Mining presently has a consensus rating of “Strong Buy”.

Nicola Mining Trading Up 4.2%

The company has a current ratio of 4.76, a quick ratio of 0.26 and a debt-to-equity ratio of 25.75. The firm has a 50-day moving average price of C$0.70 and a 200-day moving average price of C$0.90. The company has a market capitalization of C$169.85 million, a price-to-earnings ratio of -24.67 and a beta of 0.02.

Insiders Place Their Bets

In other news, insider William Cawker bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of C$0.78 per share, with a total value of C$39,000.00. Following the completion of the acquisition, the insider directly owned 150,000 shares in the company, valued at approximately C$117,000. The trade was a 50.00% increase in their ownership of the stock. 21.63% of the stock is owned by corporate insiders.

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.