Midnight Sun Mining (CVE:MMA) Trading Up 31% - Here's Why

Key Points

• Midnight Sun Mining Corp. shares surged by 31%, reaching a last traded price of C$1.90, significantly increasing from a previous close of C$1.45.
• The trading volume for the day was approximately 1.23 million shares, a 335% increase compared to its average daily volume of 282,781 shares.
• The company focuses on mineral exploration in Africa, particularly for copper, cobalt, nickel, and gold, and holds a 60% interest in the Solwezi licenses in Zambia.

Shares of Midnight Sun Mining Corp. (CVE:MMA - ) shot up 31% during trading on Saturday . The company traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares were traded during trading, an increase of 335% from the average session volume of 282,781 shares. The stock had previously closed at C$1.45.

Midnight Sun Mining Stock Performance

The stock's 50-day simple moving average is C$0.91 and its 200 day simple moving average is C$0.70. 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$342.85 million, a P/E ratio of -63.33 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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