Midnight Sun Mining (CVE:MMA) Stock Price Down 13.1% - What's Next?

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) stock has seen a significant drop of 13.1%, trading down to C$1.29 from a previous close of C$1.49.
• Trading volume increased dramatically to 2,474,373 shares, marking a 703% rise compared to the average session volume.
• The company, which focuses on mineral exploration in Africa, particularly for copper, cobalt, nickel, and gold, holds a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) traded down 13.1% on Saturday . The stock traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares changed 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 company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. 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 business has a fifty day moving average price of C$1.01 and a 200 day moving average price of C$0.73.

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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