Midnight Sun Mining (CVE:MMA) Shares Down 18.9% - What's Next?

Key Points

• Midnight Sun Mining Corp.'s stock price plummeted by 18.9% on Wednesday, trading as low as C$1.45 and closing at C$1.50.
• The company has a debt-to-equity ratio of 1.69 and significant liquidity with a quick ratio of 3.91 and a current ratio of 45.60.
• Midnight Sun Mining focuses on the acquisition and exploration of mineral properties, specifically in Africa, targeting copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price was down 18.9% on Wednesday . The company traded as low as C$1.45 and last traded at C$1.50. Approximately 536,303 shares traded hands during mid-day trading, an increase of 87% from the average daily volume of 286,539 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Trading Down 17.8%

The stock has a 50-day simple moving average of C$0.96 and a two-hundred day simple moving average of 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. The firm has a market cap of C$274.28 million, a PE ratio of -50.67 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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