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

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) saw a significant decline of 13.1% in its stock price, trading as low as C$1.26 after closing at C$1.49.
• The trading volume surged to 2,474,373 shares, marking an increase of 703% from the average daily volume of 308,332 shares.
• Midnight Sun Mining primarily explores copper, cobalt, nickel, and gold deposits, holding 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 stock 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 Price Performance

The firm has a fifty day moving average of C$1.01 and a 200 day 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 capitalization 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.