Nickel Mines Ltd (ASX:NIC) insider Yuanyuan Xu sold 28,000,000 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of A$0.40 ($0.28), for a total value of A$11,200,000.00 ($7,943,262.41).

NIC stock remained flat at $A$0.42 ($0.30) during trading hours on Thursday. The company’s stock had a trading volume of 7,169,935 shares. The stock has a market cap of $699.50 million and a P/E ratio of 6.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.53 and a current ratio of 3.52.

About Nickel Mines

Nickel Mines Limited produces nickel pig iron used in the production of stainless steel. It holds an 80% interest in the Hengjaya Mineralindo Nickel Mine that covers an area of 6,249 hectares located in the Morowali Regency of Central Sulawesi, Indonesia. The company was incorporated in 2007 and is based in Sydney, Australia.

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