Midnight Sun Mining (CVE:MMA) Stock Price Up 31% - What's Next?

Key Points

• Midnight Sun Mining Corp. shares surged by 31% on Friday, with stock prices reaching as high as C$2.00 before settling at C$1.90.
• Trading volume increased significantly, with approximately 1.23 million shares changing hands, marking a 335% jump from the average daily volume.
• The company is focused on the acquisition and exploration of mineral properties in Africa, mainly targeting copper, cobalt, nickel, and gold deposits.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) shot up 31% during trading on Friday . The company 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 Price Performance

The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69. The company has a market capitalization of C$342.85 million, a PE ratio of -63.33 and a beta of -0.08. The stock has a fifty day simple moving average of C$0.91 and a 200-day simple moving average of C$0.70.

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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