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

Key Points

• Midnight Sun Mining Corp. shares dropped by 15.7% during Thursday's trading, falling to C$1.56, after closing previously at C$1.85.
• The trading volume increased significantly, with 1,897,543 shares traded—an increase of 542% from the average session volume.
• The company holds a 60% interest in the Solwezi licenses in Zambia, primarily exploring for copper, cobalt, nickel, and gold.

Midnight Sun Mining Corp. (CVE:MMA - )'s share price fell 15.7% during trading on Thursday . 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 Stock Down 15.7%

The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The stock has a market capitalization of C$281.49 million, a P/E ratio of -52.00 and a beta of -0.08. The firm has a 50-day simple moving average of C$0.98 and a 200 day simple moving average of 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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