Midnight Sun Mining (CVE:MMA) Trading Down 15.7% - Should You Sell?

Key Points

• Midnight Sun Mining Corp. experienced a significant stock price decline of 15.7%, dropping from C$1.85 to C$1.56 during mid-day trading.
• The company has a market capitalization of C$281.49 million and is focused on the acquisition and exploration of mineral properties in Africa, particularly for copper, cobalt, nickel, and gold deposits.
• With a remarkable quick ratio of 3.91 and a current ratio of 45.60, the company indicates strong liquidity despite its recent stock volatility.

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

Midnight Sun Mining Price Performance

The stock's 50-day moving average price is C$0.96 and its 200 day moving average price is C$0.72. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The firm has a market cap of C$281.49 million, a price-to-earnings 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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