Midnight Sun Mining (CVE:MMA) Shares Up 31% - Should You Buy?

Key Points

• Midnight Sun Mining Corp. shares surged by 31% during mid-day trading, reaching C$2.00 before closing at C$1.90, with trading volume increasing by 335% compared to its average.
• The company currently holds a market cap of C$342.85 million and is involved in the exploration of mineral resources, particularly in Africa, focusing on copper, cobalt, nickel, and gold.
• Midnight Sun Mining has a quick ratio of 3.91, indicating strong short-term financial health, despite a negative P/E ratio of -63.33.

Midnight Sun Mining Corp. (CVE:MMA - ) shares traded 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 changed hands during mid-day 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 Stock Up 31.0%

The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The company has a 50-day simple moving average of C$0.88 and a two-hundred day simple moving average of C$0.69. The stock has a market cap of C$342.85 million, a P/E ratio of -63.33 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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