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

Key Points

• Midnight Sun Mining Corp. shares experienced a significant drop of 13.1%, closing at C$1.29 after trading as low as C$1.26.
• The stock saw an increase in trading volume of 703%, with 2,474,373 shares changing hands compared to an average of 308,332 shares.
• Midnight Sun Mining primarily explores for minerals such as copper, cobalt, nickel, and gold, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price dropped 13.1% during trading on Friday . 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 stock 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 quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The stock's 50-day simple moving average is C$1.01 and its 200 day simple moving average is C$0.73.

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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