Midnight Sun Mining (CVE:MMA) Shares Up 22.6% – Should You Buy?

Midnight Sun Mining Corp. (CVE:MMA) shares rose 22.6% during trading on Thursday . The stock traded as high as C$0.67 and last traded at C$0.65. Approximately 1,499,264 shares traded hands during mid-day trading, an increase of 524% from the average daily volume of 240,287 shares. The stock had previously closed at C$0.53.

Midnight Sun Mining Stock Performance

The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.91 and a current ratio of 38.15. The stock’s 50-day simple moving average is C$0.52 and its two-hundred day simple moving average is C$0.45. The stock has a market cap of C$107.62 million, a price-to-earnings ratio of -65.00 and a beta of 0.93.

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.