Midnight Sun Mining (CVE:MMA) Trading Down 15.7% - Here's What Happened

Key Points

• Midnight Sun Mining Corp. (CVE:MMA) experienced a significant stock price drop of 15.7%, trading as low as C$1.45 and closing at C$1.56 on Thursday.
• The stock's trading volume surged to nearly 1.9 million shares, which is a 542% increase from its average session volume.
• Midnight Sun Mining is focused on acquiring and exploring mineral properties in Africa, with a primary interest in copper, cobalt, nickel, and gold deposits.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price traded down 15.7% during trading on Thursday . The company traded as low as C$1.45 and last traded at C$1.56. 1,897,543 shares traded hands during trading, an increase of 542% from the average session volume of 295,360 shares. The stock had previously closed at C$1.85.

Midnight Sun Mining Stock Down 15.7%

The company has a market capitalization of C$281.49 million, a P/E ratio of -52.00 and a beta of -0.08. 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 stock's fifty day moving average is C$0.98 and its 200 day moving average is C$0.72.

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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