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.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price was down 13.1% during trading on Saturday . The stock 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 Down 13.1%

The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The company has a 50-day moving average price of C$1.01 and a 200 day moving average price of C$0.73. The firm has a market capitalization of C$232.77 million, a PE ratio of -43.00 and a beta of -0.08.

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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