Midnight Sun Mining (CVE:MMA) Shares Down 13.1% - Should You Sell?

Key Points

• Midnight Sun Mining's shares fell by 13.1%, trading as low as C$1.26 and closing at C$1.29 amidst unusually high trading volume.
• The company has a debt-to-equity ratio of 1.69 and a market cap of C$232.77 million, indicating potential financial risk.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold deposits, with a 60% interest in the Solwezi licenses in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) traded down 13.1% during trading on Saturday . The stock traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares changed hands during mid-day 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 Trading Down 13.1%

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 business has a fifty day simple moving average of C$1.01 and a 200 day simple moving average of C$0.73. The stock has a market cap of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08.

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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