Midnight Sun Mining (CVE:MMA) Stock Price Down 13.1% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. stock fell by 13.1%, last trading at C$1.29 after reaching a low of C$1.26 during the day.
• Trading volume spiked to approximately 2.47 million shares, surpassing the average daily volume by 703%.
• The company primarily focuses on exploration for copper, cobalt, nickel, and gold deposits in Africa, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) shares were down 13.1% during mid-day trading on Friday . The stock traded as low as C$1.26 and last traded at C$1.29. Approximately 2,474,373 shares were traded during trading, an increase of 703% from the average daily volume of 308,332 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Trading Down 13.1%

The business's 50-day simple moving average is C$1.01 and its 200-day simple moving average is C$0.73. The company has a market capitalization of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60.

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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