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

Key Points

• Midnight Sun Mining Corp. saw its shares drop by 13.1%, closing at C$1.29 after trading as low as C$1.26, with a significant spike in trading volume increasing by 703% compared to its average daily trading volume.
• The company's debt-to-equity ratio is reported at 1.69, highlighting its financial leverage, while its market capitalization stands at C$232.77 million.
• Midnight Sun Mining primarily focuses on exploring copper, cobalt, nickel, and gold deposits in Africa, with a notable 60% interest in the Solwezi licenses located in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) dropped 13.1% during trading on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. Approximately 2,474,373 shares traded hands during mid-day 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 Stock 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 company has a market capitalization of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08. The business's 50 day moving average is C$1.01 and its 200 day moving average is C$0.73.

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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