Midnight Sun Mining (CVE:MMA) Stock Price Up 5.1% - Still a Buy?

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) saw its share price increase by 5.1%, reaching C$0.62 during trading, after closing at C$0.59.
• The company has a market capitalization of C$108.04 million and a debt-to-equity ratio of 1.69, indicating significant leverage.
• Director Allan John Fabbro purchased 175,000 shares for a total value of C$105,000 on May 13th, highlighting insider confidence in the stock.

Midnight Sun Mining Corp. (CVE:MMA - Get Free Report) shares rose 5.1% during mid-day trading on Thursday . The stock traded as high as C$0.64 and last traded at C$0.62. Approximately 111,180 shares were traded during trading, a decline of 58% from the average daily volume of 265,808 shares. The stock had previously closed at C$0.59.

Midnight Sun Mining Price Performance

The firm has a market cap of C$104.56 million, a price-to-earnings ratio of -40.85 and a beta of 0.93. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The company's 50-day moving average price is C$0.58 and its 200-day moving average price is C$0.62.

Insiders Place Their Bets

In other news, Director Allan John Fabbro bought 175,000 shares of Midnight Sun Mining stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average price of C$0.60 per share, with a total value of C$105,000.00. 5.98% of the stock is currently owned by company insiders.

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.