Midnight Sun Mining (CVE:MMA) Shares Down 13.1% - What's Next?

Key Points

• Midnight Sun Mining Corp. shares fell by 13.1% on Friday, trading as low as C$1.26, with a surge in trading volume reaching approximately 2.47 million shares.
• The company has a market capitalization of C$232.77 million and significant debt with a debt-to-equity ratio of 1.69.
• Midnight Sun Mining primarily focuses on the acquisition and exploration of mineral properties in Africa, particularly for copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - ) dropped 13.1% on Friday . The stock traded as low as C$1.26 and last traded at C$1.29. Approximately 2,474,373 shares traded 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 Price Performance

The stock has a 50 day moving average of C$1.01 and a two-hundred day moving average of C$0.73. 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 firm has a market capitalization of C$232.77 million, a P/E 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.

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.