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

Key Points

• Midnight Sun Mining Corp. shares surged by 31% on Friday, reaching a high of C$2.00 before closing at C$1.90.
• The stock's trading volume spiked to approximately 1.23 million shares, marking a 335% increase compared to its average daily trading volume.
• Midnight Sun Mining focuses on mineral properties in Africa, exploring primarily for copper, cobalt, nickel, and gold, with a notable 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price rose 31% on Friday . The stock traded as high as C$2.00 and last traded at C$1.90. Approximately 1,229,908 shares were traded during 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 firm has a 50 day simple moving average of C$0.91 and a two-hundred day simple moving average of C$0.70. 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 stock has a market cap of C$342.85 million, a P/E 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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