Midnight Sun Mining (CVE:MMA) Stock Price Down 15.7% - Should You Sell?

Key Points

• Midnight Sun Mining Corp. shares plummeted by 15.7% on Thursday, closing at C$1.56 after trading as low as C$1.45.
• The company recorded a trading volume increase of 542% compared to its average session volume, with nearly 1.9 million shares traded.
• Midnight Sun Mining primarily explores for copper, cobalt, nickel, and gold deposits in Africa, owning a 60% interest in the Solwezi licenses in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) were 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 cap of C$281.49 million, a price-to-earnings ratio of -52.00 and a beta of -0.08. The firm's fifty day moving average is C$0.98 and its two-hundred day moving average is C$0.72. The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91.

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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