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

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) shares surged 31% during mid-day trading, reaching a high of C$2.00 and closing at C$1.90, with trading volume increasing by 335% compared to the average.
• The company, which focuses on exploring copper, cobalt, nickel, and gold deposits in Africa, has a market capitalization of C$342.85 million and a price-to-earnings ratio of -63.33.
• Midnight Sun Mining operates with a strong liquidity position, evidenced by a quick ratio of 3.91 and a current ratio of 45.60, indicating good short-term financial health.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price traded up 31% during mid-day trading on Saturday . The company traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares changed 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 Price Performance

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 stock has a 50 day moving average price of C$0.91 and a 200-day moving average price of C$0.70. The stock has a market capitalization of C$342.85 million, a price-to-earnings ratio of -63.33 and a beta of -0.08.

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.

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