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

Key Points

• Midnight Sun Mining Corp. shares dropped by 13.1%, closing at C$1.29 after trading as low as C$1.26, amidst an unusually high trading volume of 2.47 million shares.
• The company has a market capitalization of C$232.77 million and a high debt-to-equity ratio of 1.69, indicating potential financial instability.
• Midnight Sun Mining specializes in the acquisition and exploration of mineral properties in Africa, particularly focusing on copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - ) shares fell 13.1% during trading 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 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 Price Performance

The stock has a market capitalization 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 has a 50-day simple moving average of C$1.01 and a 200 day simple moving average of C$0.73.

Midnight Sun Mining Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.