Canada Nickel (CVE:CNC) Reaches New 52-Week Low – Should You Sell?

Shares of Canada Nickel Company Inc. (CVE:CNC) hit a new 52-week low during trading on Thursday. The company traded as low as C$0.91 and last traded at C$0.94, with a volume of 214,609 shares. The stock had previously closed at C$0.95.

Canada Nickel Stock Performance

The company’s 50-day moving average price is C$1.19 and its 200 day moving average price is C$1.53. The stock has a market capitalization of C$243.27 million, a PE ratio of -8.55 and a beta of 0.53. The company has a debt-to-equity ratio of 25.85, a quick ratio of 1.20 and a current ratio of 0.22.

Insider Buying and Selling at Canada Nickel

In related news, insider Stephen James Balch sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of C$1.45, for a total transaction of C$108,750.00. Following the completion of the transaction, the insider owned 350,720 shares of the company’s stock, valued at C$508,544. This trade represents a 17.62% decrease in their position. Corporate 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.