Midnight Sun Mining (CVE:MMA) Stock Price Down 18.4% - Here's What Happened

Key Points

• Midnight Sun Mining Corp.'s stock price fell by 18.4% during trading, reaching a low of C$1.45 before closing at C$1.51.
• The stock's trading volume increased by 69% compared to its average daily volume, with approximately 484,380 shares traded.
• Midnight Sun Mining focuses on the exploration of mineral properties, primarily copper, cobalt, nickel, and gold, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price was down 18.4% during trading on Wednesday . The company traded as low as C$1.45 and last traded at C$1.51. Approximately 484,380 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 286,539 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Stock Down 17.8%

The firm has a market capitalization of C$274.28 million, a PE ratio of -50.67 and a beta of -0.08. The business's 50 day simple moving average is C$0.96 and its 200 day simple moving average is C$0.72. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69.

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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