Midnight Sun Mining (CVE:MMA) Stock Price Up 7.5% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. shares increased by 7.5% to C$0.72 during recent trading, despite a notable decline in trading volume.
• The company has a market capitalization of C$135.92 million and operates primarily in the exploration of copper, cobalt, nickel, and gold deposits in Africa.
• Midnight Sun Mining holds a 60% interest in the Solwezi licenses located in Zambia, reflecting its focus on mineral property acquisition and exploration.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) rose 7.5% during trading on Thursday . The stock traded as high as C$0.72 and last traded at C$0.72. Approximately 130,869 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 258,255 shares. The stock had previously closed at C$0.67.

Midnight Sun Mining Stock Performance

The company's fifty day moving average price is C$0.59 and its 200 day moving average price is C$0.62. The company has a market cap of C$135.92 million, a PE ratio of -53.10 and a beta of 0.93. The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.