Midnight Sun Mining (CVE:MMA) Trading 31% Higher - Still a Buy?

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) experienced a significant stock increase of 31%, reaching a trading price of C$1.90 from a previous close of C$1.45.
• The trading volume surged to 1,229,908 shares, marking a 335% increase compared to its average session volume.
• The company focuses on acquiring and exploring mineral properties in Africa, with notable interests in copper, cobalt, nickel, and gold deposits, including a 60% interest in Zambian Solwezi licenses.

Midnight Sun Mining Corp. (CVE:MMA - ) shares shot up 31% during trading on Saturday . The company traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares traded hands during 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 stock has a market capitalization of C$342.85 million, a PE ratio of -63.33 and a beta of -0.08. The business's 50-day moving average price is C$0.91 and its 200 day moving average price is 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.

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.