Midnight Sun Mining (CVE:MMA) Shares Up 31% - What's Next?

Key Points

• Shares of Midnight Sun Mining Corp. rose by 31%, trading at C$1.90 after having closed at C$1.45.
• The company saw a surge in trading volume, with approximately 1,229,908 shares changing hands, an increase of 335% from its average daily volume.
• Midnight Sun Mining has a market cap of C$342.85 million and primarily focuses on exploring copper, cobalt, nickel, and gold deposits in Africa.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) were up 31% on Friday . The company traded as high as C$2.00 and last traded at C$1.90. Approximately 1,229,908 shares changed 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 Stock Performance

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 company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The business has a 50-day moving average of C$0.91 and a two-hundred day moving average of C$0.70.

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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