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

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) saw its stock price increase by 31%, reaching up to C$2.00 before closing at C$1.90, with trading volume surging by 335%.
• The company, which specializes in mineral exploration for copper, cobalt, nickel, and gold, has a market capitalization of C$342.85 million.
• Midnight Sun Mining holds a 60% interest in the Solwezi licenses in Zambia, reflecting its focus on opportunities in Africa.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price rose 31% on Saturday . The company traded as high as C$2.00 and last traded at C$1.90. Approximately 1,229,908 shares were traded 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 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 price-to-earnings ratio of -63.33 and a beta of -0.08. The stock's 50 day moving average price is C$0.91 and its two-hundred day moving average price is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.