Midnight Sun Mining (CVE:MMA) Trading 31% Higher - Should You Buy?

Key Points

• Midnight Sun Mining Corp. shares surged 31% during mid-day trading, reaching a peak of C$2.00 before closing at C$1.90, with trading volume increasing by 335% compared to the average.
• The company has a market capitalization of C$342.85 million, with a PE ratio of -63.33 and a notable debt-to-equity ratio of 1.69.
• Midnight Sun Mining primarily focuses on the exploration of copper, cobalt, nickel, and gold deposits in Africa, holding a 60% interest in the Solwezi licenses located in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price traded up 31% during mid-day trading on Friday . The company 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 Stock Performance

The stock has a market capitalization of C$342.85 million, a PE ratio of -63.33 and a beta of -0.08. The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The business's fifty day moving average price is C$0.88 and its 200-day moving average price is C$0.69.

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.

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