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  5. CNC: Please give me your thoughts on this stock. [Canada Nickel Company Inc.]
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Investment Q&A

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Q: Please give me your thoughts on this stock. Is it a buy at these levels ?
Asked by Pierre on March 18, 2025
5i Research Answer:

CNC is a small ($205M market cap) nickel miner. Nickel as a commodity is expected to be in a shortage over the mid to long-term with minimal supply growth outside of China and Indonesia. It is pre-revenue and issues shares to fund its operations. It has a decent balance sheet, with minimal debt and a good equity balance. We think it looks interesting if one is looking for exposure to nickel, but its share price has been in a downtrend since 2021, and until that trend reverses, we would likely expect more downside pressure on its share price.