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

Key Points

• Midnight Sun Mining Corp. experienced a significant stock price drop of 13.1%, trading as low as C$1.26 before closing at C$1.29.
• Trading volume surged to 2,474,373 shares, an increase of 703% compared to its average session volume.
• The company focuses on mineral exploration in Africa, particularly for copper, cobalt, nickel, and gold, and holds a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) was down 13.1% on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. Approximately 2,474,373 shares changed hands during mid-day 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 Stock Performance

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

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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