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

Key Points

• Midnight Sun Mining Corp. shares experienced a significant decline of 15.7%, trading as low as C$1.45 before recovering slightly to C$1.56.
• The trading volume surged by 542% compared to the average session, with nearly 1.9 million shares exchanged during the trading day.
• The company primarily focuses on the acquisition and exploration of mineral properties in Africa, notably holding a 60% interest in the Solwezi licenses in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) shares traded down 15.7% during trading on Wednesday . The stock traded as low as C$1.45 and last traded at C$1.56. 1,897,543 shares were traded during mid-day 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 Price Performance

The business's 50 day moving average is C$0.96 and its two-hundred day moving average is C$0.72. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The firm has a market capitalization of C$281.49 million, a PE ratio of -52.00 and a beta of -0.08.

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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