Midnight Sun Mining (CVE:MMA) Reaches New 1-Year Low – Here’s What Happened

Shares of Midnight Sun Mining Corp. (CVE:MMA) reached a new 52-week low on Monday. The company traded as low as C$0.52 and last traded at C$0.54, with a volume of 482733 shares traded. The stock had previously closed at C$0.56.

Midnight Sun Mining Stock Performance

The firm has a market capitalization of C$115.31 million, a P/E ratio of -3.53 and a beta of 3.01. The company has a debt-to-equity ratio of 0.67, a current ratio of 11.09 and a quick ratio of 3.91. The firm has a 50-day moving average price of C$0.65 and a two-hundred day moving average price of C$0.88.

Insider Transactions at Midnight Sun Mining

In related news, insider Brett Allan Richards acquired 135,300 shares of the stock in a transaction on Wednesday, July 8th. The stock was bought at an average cost of C$0.57 per share, with a total value of C$77,121.00. Following the transaction, the insider directly owned 5,758,747 shares in the company, valued at approximately C$3,282,485.79. This represents a 2.41% increase in their ownership of the stock. Over the last three months, insiders have bought 384,600 shares of company stock valued at $221,715. 5.98% of the stock is owned by insiders.

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. in February 2011. Midnight Sun Mining Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.