First Atlantic Nickel (CVE:FAN) Shares Up 30% – Here’s Why

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

First Atlantic Nickel Stock Performance

The stock has a market capitalization of C$21.62 million, a P/E ratio of -7.25 and a beta of 0.80. The stock has a 50-day simple moving average of C$0.22 and a 200 day simple moving average of C$0.16.

First Atlantic Nickel Company Profile

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.