Midnight Sun Mining (CVE:MMA) Shares Down 9.1% – What’s Next?

Shares of Midnight Sun Mining Corp. (CVE:MMA) fell 9.1% on Tuesday . The company traded as low as C$0.66 and last traded at C$0.70. 153,095 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 308,743 shares. The stock had previously closed at C$0.77.

Midnight Sun Mining Stock Performance

The firm has a 50 day moving average price of C$0.61 and a 200-day moving average price of C$0.47. The stock has a market capitalization of C$125.47 million, a PE ratio of -49.02 and a beta of 0.93. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69.

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.