Midnight Sun Mining (CVE:MMA) Shares Up 31% - Here's What Happened

Key Points

• Midnight Sun Mining's share price surged by 31% on Friday, reaching a high of C$2.00 before settling at C$1.90.
• The trading volume increased significantly to 1,229,908 shares, which is 335% higher than the average session volume of 282,781 shares.
• The company is focused on acquiring and exploring mineral properties in Africa, specifically targeting copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price shot up 31% during mid-day trading on Friday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares traded hands during trading, an increase of 335% from the average session volume of 282,781 shares. The stock had previously closed at C$1.45.

Midnight Sun Mining Price Performance

The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The company has a fifty day moving average of C$0.91 and a 200-day moving average of C$0.70. The firm has a market cap of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08.

Midnight Sun Mining Company Profile

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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