Midnight Sun Mining (CVE:MMA) Stock Price Down 15.7% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) shares fell by 15.7% on Thursday, trading as low as C$1.45 before closing at C$1.56.
• The stock saw an increase in trading volume, with approximately 1.9 million shares changing hands, which represents a 542% rise from its average daily volume.
• Midnight Sun Mining focuses on the exploration of mineral properties, primarily targeting copper, cobalt, nickel, and gold in Africa, including a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) was down 15.7% on Thursday . The stock traded as low as C$1.45 and last traded at C$1.56. Approximately 1,897,543 shares changed hands during mid-day trading, an increase of 542% from the average daily volume of 295,360 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Stock Down 15.7%

The firm has a market capitalization of C$281.49 million, a price-to-earnings ratio of -52.00 and a beta of -0.08. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69. The firm has a 50 day moving average price of C$0.98 and a two-hundred day moving average price of C$0.72.

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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