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 - )'s stock price fell 13.1% during mid-day trading on Saturday . The company 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 business's fifty day simple moving average is C$1.01 and its 200 day simple moving average is C$0.73. 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 current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69.

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.

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