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

Key Points

• Shares of Midnight Sun Mining Corp. fell by 15.7% during trading, with a last traded price of C$1.56 after reaching a low of C$1.45.
• The company has a debt-to-equity ratio of 1.69 and a market capitalization of C$281.49 million.
• Midnight Sun Mining primarily explores for deposits of copper, cobalt, nickel, and gold in Africa, holding a 60% interest in the Solwezi licenses located in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) were down 15.7% during trading on Wednesday . The stock traded as low as C$1.45 and last traded at C$1.56. Approximately 1,897,543 shares changed hands during 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 Performance

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 firm has a fifty day simple moving average of C$0.98 and a 200 day simple moving average of C$0.72. The company has a market cap of C$281.49 million, a price-to-earnings ratio of -52.00 and a beta of -0.08.

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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