Midnight Sun Mining (CVE:MMA) Trading Down 13.1% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. shares fell by 13.1% to trade at C$1.29, significantly increasing trading volume by 703% from the average daily volume.
• The company holds a market capitalization of C$232.77 million with a debt-to-equity ratio of 1.69, indicating a potentially leveraged financial position.
• Midnight Sun Mining focuses on exploration of mineral properties in Africa, primarily targeting deposits of copper, cobalt, nickel, and gold.

Midnight Sun Mining Corp. (CVE:MMA - ) shares fell 13.1% during trading on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares were traded during trading, an increase of 703% from the average session volume of 308,332 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Trading Down 13.1%

The stock has a 50-day simple moving average of C$1.01 and a 200 day simple moving average of C$0.73. The company has a current ratio of 45.60, a quick ratio of 3.91 and a debt-to-equity ratio of 1.69. The company has a market cap of C$232.77 million, a price-to-earnings ratio of -43.00 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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