Midnight Sun Mining (CVE:MMA) Stock Price Down 13.1% - Should You Sell?

Key Points

• Midnight Sun Mining Corp. shares saw a decline of 13.1%, trading as low as C$1.26, with a notable increase in trading volume of 703% compared to the average daily volume.
• The company holds a 60% interest in mineral licenses in Zambia, focusing on copper, cobalt, nickel, and gold deposits.
• With a market capitalization of C$232.77 million and a debt-to-equity ratio of 1.69, the company’s financial stability is under scrutiny due to its price-to-earnings ratio of -43.00.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price 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 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 debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The stock has a fifty day simple moving average of C$1.01 and a two-hundred day simple moving average of C$0.73. 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.

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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