Midnight Sun Mining (CVE:MMA) Shares Up 31% - Still a Buy?

Key Points

• Midnight Sun Mining Corp. shares surged by 31% to C$1.90 during trading on Friday, significantly increasing trading volume by 336% compared to its average.
• The company's market capitalization is currently C$342.85 million, with a P/E ratio of -63.33 and notable financial ratios indicating strong liquidity, such as a current ratio of 45.60.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold in Africa, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price rose 31% during mid-day trading on Friday . 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 336% from the average daily volume of 281,868 shares. The stock had previously closed at C$1.45.

Midnight Sun Mining Trading Up 31.0%

The company's fifty day moving average is C$0.88 and its 200-day moving average is C$0.69. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69. The firm has a market capitalization 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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