Nicola Mining (CVE:NIM) Trading 6.1% Higher – Here’s Why

Nicola Mining Inc. (CVE:NIM)’s stock price traded up 6.1% on Thursday . The stock traded as high as C$0.71 and last traded at C$0.70. Approximately 65,510 shares were traded during mid-day trading, a decline of 52% from the average session volume of 135,338 shares. The stock had previously closed at C$0.66.

Analysts Set New Price Targets

Separately, Maxim Group raised 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, the stock has a consensus rating of “Strong Buy”.

Nicola Mining Stock Performance

The company has a fifty day moving average price of C$0.72 and a two-hundred day moving average price of C$0.81. The company has a debt-to-equity ratio of 5.94, a current ratio of 8.34 and a quick ratio of 0.26. The company has a market capitalization of C$167.55 million, a P/E ratio of -14.60 and a beta of 0.10.

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.