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

Midnight Sun Mining Corp. (CVE:MMA) shares shot up 22.6% during trading on Wednesday . The stock traded as high as C$0.67 and last traded at C$0.65. 1,499,264 shares changed hands during trading, an increase of 536% from the average session volume of 235,842 shares. The stock had previously closed at C$0.53.

Midnight Sun Mining Price Performance

The company has a quick ratio of 3.91, a current ratio of 38.15 and a debt-to-equity ratio of 1.57. The company has a market capitalization of C$107.62 million, a P/E ratio of -65.00 and a beta of 0.93. The company’s fifty day moving average price is C$0.52 and its 200 day moving average price is C$0.45.

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.