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

Midnight Sun Mining Corp. (CVE:MMA) rose 22.6% 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 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 stock has a fifty day simple moving average of C$0.53 and a two-hundred day simple moving average of C$0.46. 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 has a market cap of C$112.59 million, a price-to-earnings ratio of -68.00 and a beta of 0.93.

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.