Midnight Sun Mining (CVE:MMA) Shares Down 15.7% - Should You Sell?

Key Points

• Midnight Sun Mining Corp. shares fell by 15.7% during trading, reaching a low of C$1.45 before closing at C$1.56.
• The company experienced a significant increase in trading volume, with approximately 1.9 million shares traded—an increase of 542% from the average daily volume.
• Midnight Sun Mining primarily focuses on the exploration of copper, cobalt, nickel, and gold in Africa, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price dropped 15.7% during trading on Wednesday . The company traded as low as C$1.45 and last traded at C$1.56. Approximately 1,897,543 shares changed hands during trading, an increase of 542% from the average daily volume of 295,360 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Trading Down 15.7%

The firm has a 50-day moving average price of C$0.98 and a 200 day moving average price of C$0.72. The company has a market cap of C$281.49 million, a price-to-earnings ratio of -52.00 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.

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.