Nicola Mining (CVE:NIM) Trading 40% Higher – What’s Next?

Nicola Mining Inc. (CVE:NIM) shares shot up 40% on Tuesday . The company traded as high as C$0.70 and last traded at C$0.70. 274,067 shares changed hands during trading, an increase of 255% from the average session volume of 77,109 shares. The stock had previously closed at C$0.50.

Analyst Ratings Changes

Separately, Noble Financial upgraded shares of Nicola Mining to a “strong-buy” rating in a research report on Thursday, May 8th.

Nicola Mining Trading Down 4.7%

The firm has a market capitalization of C$122.15 million, a price-to-earnings ratio of -19.53 and a beta of 1.14. The business’s 50-day simple moving average is C$0.44 and its two-hundred day simple moving average is C$0.37. The company has a quick ratio of 0.26, a current ratio of 3.34 and a debt-to-equity ratio of 152.26.

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.