Canada Nickel (CVE:CNC) Stock Falls 1.6% – Here’s What Happened

Canada Nickel Company Inc. (CVE:CNC) shares fell 1.6% during trading on Monday. The company traded as low as C$1.20 and last traded at C$1.21. Approximately 335,708 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 781,117 shares. The stock had previously closed at C$1.23.

Canada Nickel Stock Performance

The company has a market capitalization of C$313.15 million, a PE ratio of -11.00 and a beta of 0.35. The firm has a 50-day moving average of C$1.45 and a two-hundred day moving average of C$1.52. The company has a quick ratio of 1.20, a current ratio of 0.22 and a debt-to-equity ratio of 25.85.

Insider Activity

In related news, insider Stephen James Balch sold 77,541 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of C$1.65, for a total transaction of C$127,942.65. Following the sale, the insider directly owned 64,816 shares of the company’s stock, valued at approximately C$106,946.40. This represents a 54.47% decrease in their ownership of the stock. In the last ninety days, insiders have sold 191,997 shares of company stock valued at $292,720. Insiders own 14.82% of the company’s stock.

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.