Nicola Mining (CVE:NIM) Trading 6% Higher – Here’s Why

Shares of Nicola Mining Inc. (CVE:NIM) shot up 6% during mid-day trading on Wednesday . The stock traded as high as C$0.71 and last traded at C$0.71. 83,625 shares traded 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.

Analysts Set New Price Targets

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

Nicola Mining Stock Performance

The company has a quick ratio of 0.26, a current ratio of 4.76 and a debt-to-equity ratio of 25.75. The stock has a market capitalization of C$162.96 million, a PE ratio of -23.67 and a beta of 0.08. The firm has a 50 day moving average price of C$0.71 and a 200-day moving average price of C$0.90.

Insider Activity

In other Nicola Mining news, insider William Cawker bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of C$0.78 per share, for a total transaction of C$39,000.00. Following the completion of the transaction, the insider directly owned 150,000 shares of the company’s stock, valued at approximately C$117,000. This trade represents a 50.00% increase in their position. 21.63% of the stock is currently owned by company 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.