Midnight Sun Mining (CVE:MMA) Stock Price Up 6% - What's Next?

Key Points

• Midnight Sun Mining Corp. saw its stock price increase by 6% to C$0.71, despite a significant drop in trading volume by 72% from the average.
• The company has a market capitalization of C$123.72 million and operates in the exploration of mineral properties, mainly for copper, cobalt, nickel, and gold in Africa.
• Midnight Sun Mining holds a 60% interest in the Solwezi licenses in Zambia, indicating a focused investment in a key mining region.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price rose 6% during trading on Monday . The stock traded as high as C$0.71 and last traded at C$0.71. Approximately 72,548 shares changed hands during trading, a decline of 72% from the average daily volume of 261,548 shares. The stock had previously closed at C$0.67.

Midnight Sun Mining Stock Performance

The company's 50-day simple moving average is C$0.59 and its 200 day simple moving average is C$0.62. 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 stock has a market cap of C$123.72 million, a P/E ratio of -48.34 and a beta of 0.93.

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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