Midnight Sun Mining (CVE:MMA) Shares Down 15.7% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. shares experienced a significant decline of 15.7%, trading as low as C$1.45 before closing at C$1.56.
• The company's trading volume surged to 1,897,543 shares, an increase of 542% compared to its average session volume.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold deposits, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) traded down 15.7% during mid-day trading on Thursday . The stock traded as low as C$1.45 and last traded at C$1.56. 1,897,543 shares were traded during trading, an increase of 542% from the average session volume of 295,360 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Price Performance

The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The business has a fifty day moving average of C$0.98 and a 200 day moving average of C$0.72. The firm has a market cap of C$281.49 million, a P/E ratio of -52.00 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.