Midnight Sun Mining (CVE:MMA) Shares Down 13.1% - Time to Sell?

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) shares dropped by 13.1%, closing at C$1.29 after trading as low as C$1.26.
• The stock's trading volume surged by 703% from its average, with 2,474,373 shares traded during mid-day.
• Midnight Sun Mining specializes in mineral exploration in Africa, focusing on copper, cobalt, nickel, and gold deposits.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) dropped 13.1% on Friday . 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 Trading Down 13.1%

The business has a 50 day moving average of C$1.01 and a two-hundred day moving average of C$0.73. The firm 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 current ratio of 45.60, a quick ratio of 3.91 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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