Midnight Sun Mining (CVE:MMA) Shares Down 13.1% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. experienced a significant drop in share price, falling 13.1% to C$1.29 after trading at C$1.49 previously.
• Trading volume surged to approximately 2.47 million shares, marking an increase of 703% compared to its average daily volume.
• The company, which focuses on acquiring and exploring mineral properties in Africa, holds a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price fell 13.1% on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares traded hands during trading, an increase of 703% from the average session volume of 308,332 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Stock Performance

The company has a market cap of C$232.77 million, a P/E ratio of -43.00 and a beta of -0.08. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The stock's fifty day moving average price is C$1.01 and its two-hundred day moving average price is C$0.73.

About Midnight Sun Mining

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.

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