Canada Nickel (CVE:CNC) Hits New 12-Month Low – Here’s What Happened

Canada Nickel Company Inc. (CVE:CNC) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as C$0.94 and last traded at C$0.94, with a volume of 1,083,730 shares traded. The stock had previously closed at C$1.02.

Canada Nickel Price Performance

The company has a fifty day simple moving average of C$1.34 and a two-hundred day simple moving average of C$1.49. The company has a debt-to-equity ratio of 25.85, a quick ratio of 1.20 and a current ratio of 0.22. The company has a market capitalization of C$253.62 million, a price-to-earnings ratio of -8.91 and a beta of 0.67.

Insider Activity

In other news, insider Stephen James Balch sold 39,456 shares of Canada Nickel stock in a transaction on Friday, September 11th. The stock was sold at an average price of C$1.42, for a total value of C$56,027.52. Following the completion of the sale, the insider owned 311,264 shares of the company’s stock, valued at C$441,994.88. The trade was a 11.25% decrease in their ownership of the stock. Insiders sold a total of 191,997 shares of company stock worth $292,720 in the last 90 days. 14.82% of the stock is owned by company insiders.

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.