First Atlantic Nickel (CVE:FAN) Trading Up 30% – Should You Buy?

First Atlantic Nickel Corp. (CVE:FAN) rose 30% during mid-day trading on Thursday . The stock traded as high as C$0.35 and last traded at C$0.33. Approximately 2,223,805 shares traded hands during trading, an increase of 583% from the average daily volume of 325,827 shares. The stock had previously closed at C$0.25.

First Atlantic Nickel Stock Performance

The company has a market cap of C$21.62 million, a P/E ratio of -7.25 and a beta of 0.80. The business has a fifty day simple moving average of C$0.22 and a 200 day simple moving average of C$0.16.

About First Atlantic Nickel

First Atlantic Nickel Corp. engages in the identification, evaluation, and acquisition of mineral properties in Canada. It explores for nickel, copper, silver, cobalt, gold, and molybdenum deposits. Its flagship project is the 100% owned option to acquire TL Nickel Project located in the Churchill Province of Labrador, Canada.