Midnight Sun Mining (CVE:MMA) Shares Down 1.9% - Time to Sell?

Key Points

• Shares fell 1.9% to C$1.27 on Monday on light trading of 70,179 shares, down 86% from the average session volume.
• Haywood Securities set a C$3.00 price target and a "Buy" rating, and the consensus price target on the stock is C$3.00 with an average rating of "Buy."
• Midnight Sun has a market cap of C$271.45M and a negative P/E of -31.75, with high liquidity (current ratio 18.26, quick ratio 3.91) and a 60% interest in the Solwezi licenses in Zambia exploring copper, cobalt, nickel, and gold.

Midnight Sun Mining Corp. (CVE:MMA - Get Free Report)'s share price fell 1.9% on Monday . The company traded as low as C$1.27 and last traded at C$1.27. 70,179 shares traded hands during trading, a decline of 86% from the average session volume of 494,822 shares. The stock had previously closed at C$1.30.

Analysts Set New Price Targets

Separately, Haywood Securities set a C$3.00 target price on shares of Midnight Sun Mining and gave the stock a "buy" rating in a report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$3.00.

Midnight Sun Mining Stock Down 1.9%

The stock has a market cap of C$271.45 million, a P/E ratio of -31.75 and a beta of 2.16. The company has a current ratio of 18.26, a quick ratio of 3.91 and a debt-to-equity ratio of 1.26. The firm's fifty day moving average is C$1.26 and its 200 day moving average is C$1.35.

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. in February 2011. Midnight Sun Mining Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.

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