Midnight Sun Mining (CVE:MMA) Shares Up 31% – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA) shares shot up 31% on Saturday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares changed hands during mid-day 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 Price Performance

The business’s 50-day moving average price is C$0.91 and its 200 day moving average price is C$0.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The stock has a market capitalization of C$342.85 million, a PE 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.