Midnight Sun Mining (CVE:MMA) Trading 22.6% Higher – Here’s Why

Shares of Midnight Sun Mining Corp. (CVE:MMA) shot up 22.6% during mid-day trading on Wednesday . The company traded as high as C$0.67 and last traded at C$0.65. 1,138,824 shares changed hands during trading, an increase of 412% from the average session volume of 222,240 shares. The stock had previously closed at C$0.53.

Midnight Sun Mining Stock Performance

The stock has a fifty day simple moving average of C$0.52 and a 200-day simple moving average of C$0.45. The stock has a market cap of C$112.59 million, a P/E ratio of -68.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.91 and a current ratio of 38.15.

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.