Midnight Sun Mining (CVE:MMA) Stock Price Up 51.3% – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA) shot up 51.3% during mid-day trading on Saturday . The stock traded as high as C$0.59 and last traded at C$0.59. 1,480,653 shares changed hands during mid-day trading, an increase of 688% from the average session volume of 187,992 shares. The stock had previously closed at C$0.39.

Midnight Sun Mining Price Performance

The stock has a market cap of C$97.69 million, a P/E ratio of -59.00 and a beta of 0.93. The company’s 50 day moving average price is C$0.44 and its 200-day moving average price is C$0.41. The company has a quick ratio of 3.91, a current ratio of 38.15 and a debt-to-equity ratio of 1.57.

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.