Midnight Sun Mining (CVE:MMA) Stock Price Up 31% - Still a Buy?

Key Points

• Midnight Sun Mining Corp.'s share price increased by 31%, reaching a high of C$2.00 before closing at C$1.90, with a significant trading volume of approximately 1.23 million shares.
• The company has a strong liquidity position indicated by a current ratio of 45.60 and a quick ratio of 3.91, though it also shows a debt-to-equity ratio of 1.69.
• Midnight Sun Mining primarily focuses on exploring mineral properties in Africa, targeting deposits of copper, cobalt, nickel, and gold, holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) 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 were traded 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 Up 31.0%

The business has a fifty day moving average of C$0.91 and a 200 day moving average of C$0.70. The firm has a market cap of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08. The company has a quick ratio of 3.91, a current ratio of 45.60 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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