Midnight Sun Mining (CVE:MMA) Shares Down 17.3% - What's Next?

Key Points

• Midnight Sun Mining Corp. saw its stock price plunge 17.3% on Wednesday, closing at C$1.53 after trading as low as C$1.45.
• Trading volume surged to approximately 1,762,333 shares, a significant increase of 499% from its average daily volume.
• The company holds a 60% interest in the Solwezi licenses in Zambia, focusing on the exploration of copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price dropped 17.3% during trading on Wednesday . The company traded as low as C$1.45 and last traded at C$1.53. Approximately 1,762,333 shares traded hands during mid-day trading, an increase of 499% from the average daily volume of 294,434 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Stock Performance

The company has a market cap of C$281.49 million, a PE ratio of -52.00 and a beta of -0.08. The business's 50-day moving average is C$0.96 and its 200 day moving average is C$0.72. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60.

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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