Midnight Sun Mining (CVE:MMA) Trading Down 17.3% - Here's Why

Key Points

• Midnight Sun Mining Corp. shares plummeted 17.3% on Wednesday, trading as low as C$1.45 before closing at C$1.53.
• The company reported a significant increase in trading volume, reaching 1,762,333 shares, a 499% rise compared to its average session volume.
• Midnight Sun Mining has a market cap of C$281.49 million and primarily focuses on the exploration of copper, cobalt, nickel, and gold deposits in Africa.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) fell 17.3% on Wednesday . The company traded as low as C$1.45 and last traded at C$1.53. 1,762,333 shares were traded during trading, an increase of 499% from the average session volume of 294,434 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 firm has a market cap of C$281.49 million, a PE ratio of -52.00 and a beta of -0.08. The business has a fifty day moving average price of C$0.96 and a two-hundred day moving average price of C$0.72.

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.

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