Midnight Sun Mining (CVE:MMA) Stock Price Down 3.2% - Here's Why

Shares of Midnight Sun Mining Corp. (CVE:MMA - Get Free Report) fell 3.2% during mid-day trading on Wednesday . The stock traded as low as C$0.60 and last traded at C$0.60. 97,590 shares were traded during trading, a decline of 57% from the average session volume of 229,392 shares. The stock had previously closed at C$0.62.

Midnight Sun Mining Stock Performance

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 firm has a market capitalization of C$106.30 million, a price-to-earnings ratio of -41.53 and a beta of 0.93. The company has a 50-day moving average of C$0.59 and a 200-day moving average of C$0.59.

Insider Activity at Midnight Sun Mining

In other news, Director Allan John Fabbro purchased 175,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of C$0.60 per share, with a total value of C$105,000.00. Corporate insiders own 5.98% of the company's stock.

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.