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

Key Points

• Midnight Sun Mining Corp. shares surged by 31%, reaching as high as C$2.00 during Saturday trading, significantly increasing from a previous close of C$1.45.
• The company saw a trading volume increase of 335%, with 1,229,908 shares exchanged compared to the average of 282,781 shares.
• Midnight Sun Mining engages in the exploration of mineral properties in Africa, primarily focusing on copper, cobalt, nickel, and gold.

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

Midnight Sun Mining Trading Up 31.0%

The company has a market cap of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08. The business has a fifty day moving average price of C$0.91 and a 200-day moving average price of C$0.70. 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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