Midnight Sun Mining (CVE:MMA) Shares Down 14% – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA) shares traded down 14% during trading on Friday . The stock traded as low as C$1.25 and last traded at C$1.29. 394,284 shares were traded during mid-day trading, a decline of 22% from the average session volume of 507,063 shares. The stock had previously closed at C$1.50.

Analyst Ratings Changes

Separately, Haywood Securities set a C$3.00 price target on shares of Midnight Sun Mining and gave the company a “buy” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$3.00.

Midnight Sun Mining Stock Down 11.3%

The company has a market cap of C$284.27 million, a price-to-earnings ratio of -33.25 and a beta of 2.09. 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 business has a fifty day moving average price of C$1.42 and a two-hundred day moving average price of C$1.21.

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. in February 2011. Midnight Sun Mining Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.