Midnight Sun Mining (CVE:MMA) Stock Price Down 7.1% - What's Next?

Key Points

• Midnight Sun Mining Corp. experienced a significant share price drop of 7.1%, trading at C$1.38 after closing at C$1.49 the previous day.
• Trading volume surged to 889,352 shares, marking an increase of 198% compared to its average daily volume.
• The company primarily focuses on mining copper, cobalt, nickel, and gold in Africa, owning a 60% interest in mineral rights in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price was down 7.1% during mid-day trading on Friday . The stock traded as low as C$1.31 and last traded at C$1.38. Approximately 889,352 shares traded hands during trading, an increase of 198% from the average daily volume of 298,306 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Stock Down 14.1%

The business's 50-day moving average is C$0.99 and its 200-day moving average is C$0.73. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The firm has a market cap of C$230.07 million, a price-to-earnings ratio of -42.50 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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