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

Key Points

• Midnight Sun Mining Corp. shares surged by 31%, reaching a trading high of C$2.00 before closing at C$1.90, with trading volume increasing dramatically.
• The company has solid liquidity ratios, including a quick ratio of 3.91 and a current ratio of 45.60, indicating a strong financial position.
• Midnight Sun Mining primarily focuses on the exploration of mineral properties in Africa, possessing a 60% interest in significant licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price traded up 31% on Saturday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares traded hands during trading, an increase of 335% from the average session 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 moving average price of C$0.91 and a two-hundred day moving average price of C$0.70. The company has a market capitalization 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.

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.

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