Midnight Sun Mining (CVE:MMA) Trading Down 13.1% - Time to Sell?

Key Points

• Midnight Sun Mining Corp. shares fell 13.1% during mid-day trading, dropping from a previous close of C$1.49 to C$1.29.
• Volume of shares traded increased significantly to approximately 2.47 million, a 703% rise from the average daily volume of 308,332 shares.
• The company's market cap stands at C$232.77 million, and it primarily focuses on exploring copper, cobalt, nickel, and gold in Africa.

Midnight Sun Mining Corp. (CVE:MMA - ) shares were 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. 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 firm has a fifty day simple moving average of C$1.01 and a 200-day simple moving average of C$0.73. The firm has a market cap of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60.

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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