Midnight Sun Mining (CVE:MMA) Reaches New 1-Year High - Time to Buy?

Key Points

• Midnight Sun Mining Corp. shares reached a new 52-week high, trading at C$1.06 before settling at C$0.98 with a trading volume of 226,442 shares.
• The company holds a market capitalization of C$169.62 million and reported a PE ratio of -31.33, indicating current losses.
• Midnight Sun is focused on exploring mineral properties in Africa, primarily targeting copper, cobalt, nickel, and gold, with a notable 60% interest in the Solwezi licenses in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as C$1.06 and last traded at C$0.98, with a volume of 226442 shares changing hands. The stock had previously closed at C$0.99.

Midnight Sun Mining Stock Performance

The business has a fifty day simple moving average of C$0.70 and a two-hundred day simple moving average of C$0.63. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The company has a market cap of C$173.23 million, a P/E ratio of -32.00 and a beta of -0.08.

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.