Midnight Sun Mining (CVE:MMA) Shares Up 31% - Time to Buy?

Key Points

• Midnight Sun Mining Corp. shares surged by 31% during mid-day trading, reaching a high of C$2.00 before last trading at C$1.90.
• Trading volume increased by 335%, with approximately 1,229,908 shares changing hands, significantly above the average daily volume.
• The company's market cap stands at C$342.85 million, and it primarily focuses on exploring mineral properties, including copper and gold, mainly in Africa.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) shot up 31% on Saturday . The company 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 Performance

The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The company has a market cap of C$342.85 million, a price-to-earnings ratio of -63.33 and a beta of -0.08. The company has a fifty day moving average of C$0.91 and a two-hundred day moving average of C$0.70.

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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