Midnight Sun Mining (CVE:MMA) Hits New 52-Week High - What's Next?

Key Points

• Midnight Sun Mining Corp. reached a new 52-week high of C$1.33, closing at C$1.28 with a trading volume of 376,755 shares.
• The company has a market capitalization of C$234.58 million and a negative price-to-earnings ratio of -43.33.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold deposits in Africa, notably holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as C$1.33 and last traded at C$1.28, with a volume of 376755 shares trading hands. The stock had previously closed at C$1.14.

Midnight Sun Mining Stock Up 8.1%

The stock's 50-day moving average price is C$0.82 and its two-hundred day moving average price is C$0.67. The stock has a market capitalization of C$265.25 million, a P/E ratio of -49.00 and a beta of -0.08. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69.

Midnight Sun Mining Company Profile

Midnight Sun Mining Corp. engages in the acquisition and exploration of mineral properties in Africa. The company primarily explores for copper, cobalt, nickel, and gold deposits. It owns a 60% interest in the Solwezi licenses located in Zambia. The company was formerly known as Midnight Sun Capital Corporation and changed its name to Midnight Sun Mining Corp.