Midnight Sun Mining (CVE:MMA) Stock Price Down 5.8% - Here's Why

Key Points

• Shares fell 5.8% to C$1.13 on Tuesday, with 207,227 shares traded—about 53% below the average session volume.
• Market cap C$243.6M and negative P/E — the stock has a P/E of -14.13 and a beta of 2.16, indicating losses and higher volatility.
• Africa-focused mineral explorer — Midnight Sun holds a 60% interest in the Solwezi licenses in Zambia and targets copper, cobalt, nickel and gold deposits.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) traded down 5.8% on Tuesday . The company traded as low as C$1.13 and last traded at C$1.13. 207,227 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 442,781 shares. The stock had previously closed at C$1.20.

Midnight Sun Mining Trading Down 5.8%

The stock has a market capitalization of C$243.61 million, a P/E ratio of -14.13 and a beta of 2.16. The stock has a 50-day moving average price of C$1.25 and a two-hundred day moving average price of C$1.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.91 and a current ratio of 60.96.

Midnight Sun Mining Company Profile

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. in February 2011. Midnight Sun Mining Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.

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