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Midnight Sun Mining (CVE:MMA) Trading 31% Higher - Here's Why

Midnight Sun Mining logo with Basic Materials background

Key Points

  • Midnight Sun Mining Corp. shares surged 31%, reaching a high of C$2.00, significantly increasing trading volume to 1,229,908 shares.
  • The company's market capitalization stands at C$342.85 million, with a P/E ratio of -63.33 and a debt-to-equity ratio of 1.69.
  • Midnight Sun Mining focuses on acquiring and exploring for copper, cobalt, nickel, and gold deposits in Africa, owning a 60% interest in the Solwezi licenses located in Zambia.
  • Five stocks we like better than Midnight Sun Mining.

Shares of Midnight Sun Mining Corp. (CVE:MMA - Get Free Report) traded up 31% during mid-day trading on Saturday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares traded hands during mid-day 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 Trading Up 31.0%

The company has a 50 day simple moving average of C$0.91 and a 200 day simple moving average of C$0.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The company has a market capitalization of C$342.85 million, a PE ratio of -63.33 and a beta of -0.08.

About Midnight Sun Mining

(Get Free Report)

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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