Midnight Sun Mining (CVE:MMA) Shares Down 14.1% - Should You Sell?

Key Points

• Midnight Sun Mining Corp. shares fell by 14.1% to C$1.28 on Friday, with a significant trading volume increase of 679% compared to its average daily volume.
• The company possesses a debt-to-equity ratio of 1.69 and a market capitalization of C$232.77 million, reflecting financial challenges alongside ongoing exploration of mineral properties in Africa.
• Midnight Sun Mining is involved in the exploration of copper, cobalt, nickel, and gold deposits, and holds a 60% interest in the Solwezi licenses located in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) was down 14.1% on Friday . The company traded as low as C$1.26 and last traded at C$1.28. Approximately 2,393,823 shares were traded during mid-day trading, an increase of 679% from the average daily volume of 307,158 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Price Performance

The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The firm has a market capitalization of C$232.77 million, a PE ratio of -43.00 and a beta of -0.08. The company has a 50-day moving average price of C$1.01 and a 200-day moving average price of 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.

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.