Canada Nickel (CVE:CNC) Shares Down 6.2% – Here’s Why

Canada Nickel Company Inc. (CVE:CNC)’s stock price was down 6.2% on Tuesday . The stock traded as low as C$1.34 and last traded at C$1.36. 604,593 shares were traded during trading, a decline of 33% from the average session volume of 905,000 shares. The stock had previously closed at C$1.45.

Canada Nickel Trading Down 6.2%

The company has a debt-to-equity ratio of 24.31, a quick ratio of 1.20 and a current ratio of 0.35. The business has a 50-day moving average of C$1.58 and a 200-day moving average of C$1.71. The stock has a market capitalization of C$332.67 million, a price-to-earnings ratio of -12.36 and a beta of 0.51.

Canada Nickel Company Profile

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.