Midnight Sun Mining (CVE:MMA) Stock Price Up 31% - Here's Why

Key Points

• Midnight Sun Mining Corp. saw a significant share price increase of 31% during trading, reaching a peak of C$2.00.
• The trading volume surged to approximately 1.23 million shares, marking a 335% increase from the average daily volume.
• The company focuses on exploring mineral deposits, particularly copper, cobalt, nickel, and gold, with a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price rose 31% during trading on Saturday . The company traded as high as C$2.00 and last traded at C$1.90. Approximately 1,229,908 shares changed hands during mid-day trading, an increase of 335% from the average daily volume of 282,781 shares. The stock had previously closed at C$1.45.

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 company's 50-day moving average price is C$0.91 and its two-hundred day moving average price is C$0.70. The company has a market capitalization of C$342.85 million, a price-to-earnings ratio of -63.33 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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