Midnight Sun Mining (CVE:MMA) Trading Up 6% - Here's Why

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 - Get Free Report)'s stock price rose 6% during mid-day trading on Monday . The stock traded as high as C$0.71 and last traded at C$0.71. Approximately 72,548 shares traded hands during mid-day 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 Price Performance

The firm has a market capitalization of C$141.15 million, a P/E ratio of -55.15 and a beta of 0.93. The firm has a 50 day moving average price of C$0.59 and a 200-day moving average price of 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.

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.