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.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price fell 13.1% on Saturday . The stock 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 stock 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 current ratio of 45.60 and a quick ratio of 3.91. The firm's 50-day moving average price is C$1.01 and its 200-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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