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 - ) fell 13.1% on Friday . The company traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares changed hands during trading, an increase of 703% from the average session volume of 308,332 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Price Performance

The stock has a 50 day simple moving average of C$1.01 and a two-hundred day simple moving average of C$0.73. The company has a market cap 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 current ratio of 45.60 and a quick ratio of 3.91.

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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