Midnight Sun Mining (CVE:MMA) Shares Down 16.8% - Should You Sell?

Key Points

• Midnight Sun Mining Corp.'s stock price decreased by 16.8% on Wednesday, trading as low as C$1.45.
• The company has a debt-to-equity ratio of 1.69 and a market capitalization of C$281.49 million, indicating significant financial leverage.
• Midnight Sun Mining primarily focuses on exploring for copper, cobalt, nickel, and gold deposits in Africa, with a 60% interest in the Solwezi licenses located in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price traded down 16.8% on Wednesday . The stock traded as low as C$1.45 and last traded at C$1.54. 1,379,962 shares traded hands during trading, an increase of 372% from the average session volume of 292,098 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Stock Performance

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 firm's 50 day simple moving average is C$0.96 and its 200 day simple moving average is C$0.72. The firm has a market capitalization 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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