Midnight Sun Mining (CVE:MMA) Trading Up 31% - Still a Buy?

Key Points

• Midnight Sun Mining Corp. saw a significant increase in stock price, up 31% during mid-day trading on Saturday, reaching C$1.90.
• The company has a market capitalization of C$342.85 million and a notably high current ratio of 45.60, indicating strong liquidity.
• Midnight Sun Mining primarily engages in the acquisition and exploration of mineral properties in Africa, focusing on copper, cobalt, nickel, and gold deposits.

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

Midnight Sun Mining Price Performance

The firm's 50-day moving average is C$0.91 and its 200-day 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 company 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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