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

Key Points

• Midnight Sun Mining Corp. shares surged by 31% during trading, reaching a high of C$2.00 and closing at C$1.90, with trading volume up by 335% compared to the average.
• The company, which specializes in mineral exploration in Africa, particularly for copper, cobalt, nickel, and gold, owns a 60% interest in the Solwezi licenses in Zambia.
• Midnight Sun Mining has a market cap of C$342.85 million and maintains a high current ratio of 45.60, indicating strong liquidity.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) traded up 31% during trading on Saturday . 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 Trading Up 31.0%

The firm's 50-day moving average is C$0.91 and its 200-day moving average is C$0.70. 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 cap of C$342.85 million, a price-to-earnings 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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