Midnight Sun Mining (CVE:MMA) Trading 31% Higher - What's Next?

Key Points

• Midnight Sun Mining Corp.'s stock surged by 31% on Friday, closing at C$1.90 after reaching a high of C$2.00.
• The trading volume increased by 335%, with 1,229,908 shares exchanged compared to the average of 282,781 shares.
• Midnight Sun Mining primarily focuses on the exploration of copper, cobalt, nickel, and gold in Africa, owning a 60% interest in licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price 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 were traded 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 Trading Up 31.0%

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 firm's fifty day simple moving average is C$0.91 and its 200-day simple moving average is C$0.70. The stock has a market cap of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08.

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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