Midnight Sun Mining (CVE:MMA) Trading Down 13.1% - Should You Sell?

Key Points

• Midnight Sun Mining's share price decreased by 13.1%, trading as low as C$1.26 before closing at C$1.29, significantly below its previous close of C$1.49.
• The company experienced a dramatic increase in trading volume, with 2,474,373 shares traded, representing a 703% increase from its average session volume.
• Midnight Sun Mining primarily focuses on the exploration of copper, cobalt, nickel, and gold deposits in Africa, and holds a 60% interest in the Solwezi licenses located in Zambia.

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

Midnight Sun Mining Stock Down 13.1%

The business has a fifty day moving average of C$1.01 and a 200 day moving average of C$0.73. The firm has a market cap of C$232.77 million, a P/E ratio of -43.00 and a beta of -0.08. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69.

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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