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

Key Points

• Midnight Sun Mining Corp. shares fell by 15.7% to C$1.56, with over 1.8 million shares traded, marking a significant increase in trading volume.
• The company's market capitalization stands at C$281.49 million with a price-to-earnings ratio of -52.00, indicating negative earnings performance.
• Midnight Sun Mining focuses on the exploration of mineral properties in Africa, including copper, cobalt, nickel, and gold, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) was down 15.7% on Wednesday . The company traded as low as C$1.45 and last traded at C$1.56. Approximately 1,897,543 shares traded 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 business has a 50 day simple moving average of C$0.98 and a two-hundred day simple moving average of C$0.72. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69. The stock has a market cap of C$281.49 million, a price-to-earnings 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.

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