Midnight Sun Mining (CVE:MMA) Shares Up 17.9% - Should You Buy?

Key Points

• Midnight Sun Mining Corp. shares surged by 17.9%, reaching a trading price of C$0.79, with a significant increase in trading volume.
• The company has a market capitalization of C$134.18 million and a price-to-earnings ratio of -52.42, indicating ongoing losses.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold deposits in Africa, owning a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price shot up 17.9% on Thursday . The company traded as high as C$0.79 and last traded at C$0.79. 539,778 shares were traded during mid-day trading, an increase of 107% from the average session volume of 260,774 shares. The stock had previously closed at C$0.67.

Midnight Sun Mining Trading Up 14.9%

The firm has a market capitalization of C$134.18 million, a price-to-earnings ratio of -52.42 and a beta of 0.93. The firm's 50 day moving average is C$0.59 and its 200 day moving average is C$0.62. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69.

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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