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 were traded 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 company has a market capitalization of C$21.62 million, a price-to-earnings ratio of -7.25 and a beta of 0.80. The company has a 50 day moving average price of C$0.22 and a 200 day moving average price 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.