Midnight Sun Mining (CVE:MMA) Trading Down 7.1% – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA)’s stock price fell 7.1% on Friday . The company traded as low as C$1.31 and last traded at C$1.38. 889,352 shares changed hands during trading, an increase of 198% from the average session volume of 298,306 shares. The stock had previously closed at C$1.49.

Midnight Sun Mining Stock Performance

The company has a market cap of C$232.77 million, a price-to-earnings ratio of -43.00 and a beta of -0.08. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The stock’s fifty day simple moving average is C$1.01 and its two-hundred day simple moving average is C$0.73.

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.