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

Key Points

• Midnight Sun Mining Corp. shares declined by 13.1%, trading at C$1.29 after reaching a low of C$1.26 during Saturday's trading session.
• The trading activity surged with approximately 2.5 million shares exchanged, a 703% increase compared to the average daily volume.
• Midnight Sun Mining focuses on exploring copper, cobalt, nickel, and gold deposits primarily in Africa, holding a 60% interest in the Solwezi licenses in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) were down 13.1% during mid-day trading on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. Approximately 2,474,373 shares changed hands during trading, an increase of 703% from the average daily volume of 308,332 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Price Performance

The company has a 50 day simple moving average of C$1.01 and a 200 day simple moving average of C$0.73. The company has a market capitalization of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69.

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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