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 - )'s share price traded down 13.1% during mid-day trading on Saturday . The company traded as low as C$1.26 and last traded at C$1.29. 2,474,373 shares traded hands during mid-day 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 Price Performance

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 50 day simple moving average of C$1.01 and a 200 day simple moving average of C$0.73. The stock has a market cap of C$232.77 million, a P/E 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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