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

Key Points

• Midnight Sun Mining Corp. stock has dropped by 13.1%, trading at C$1.29 after a low of C$1.26, with an unusual trading volume of approximately 2.47 million shares.
• The company boasts a debt-to-equity ratio of 1.69 and a market capitalization of C$232.77 million, along with a negative PE ratio of -43.00.
• Midnight Sun Mining is engaged in the exploration of mineral properties in Africa, primarily focusing on copper, cobalt, nickel, and gold, controlling a 60% interest in the Solwezi licenses located in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) fell 13.1% during trading on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares traded hands during mid-day 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 market capitalization of C$232.77 million, a PE ratio of -43.00 and a beta of -0.08. The firm's fifty day moving average price is C$1.01 and its two-hundred day moving average price is C$0.73. The company has a quick ratio of 3.91, a current ratio of 45.60 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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