Midnight Sun Mining (CVE:MMA) Trading Up 31% - What's Next?

Key Points

• Midnight Sun Mining Corp. saw its stock price surge by 31%, trading as high as C$2.00 before settling at C$1.90, with trading volume increasing by 336% from average levels.
• The company specializes in acquiring and exploring mineral properties in Africa, focusing on copper, cobalt, nickel, and gold, and holds a 60% interest in the Solwezi licenses in Zambia.
• Midnight Sun Mining has a market cap of C$342.85 million and a current ratio of 45.60, indicating solid liquidity relative to its obligations.

Midnight Sun Mining Corp. (CVE:MMA - )'s stock price traded up 31% during trading on Friday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares traded hands during mid-day trading, an increase of 336% from the average session volume of 281,868 shares. The stock had previously closed at C$1.45.

Midnight Sun Mining Stock Up 31.0%

The business's 50 day moving average is C$0.88 and its 200 day moving average is C$0.69. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The company has a market cap of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08.

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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