Midnight Sun Mining (CVE:MMA) Trading Up 5% – Here’s What Happened

Midnight Sun Mining Corp. (CVE:MMA)’s share price was up 5% on Friday . The stock traded as high as C$1.75 and last traded at C$1.68. Approximately 931,576 shares were traded during trading, an increase of 67% from the average daily volume of 556,515 shares. The stock had previously closed at C$1.60.

Analyst Upgrades and Downgrades

Separately, Haywood Securities set a C$3.00 price objective on shares of Midnight Sun Mining and gave the company a “buy” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Midnight Sun Mining currently has a consensus rating of “Buy” and a consensus price target of C$3.00.

Midnight Sun Mining Stock Performance

The company’s 50-day moving average is C$1.36 and its two-hundred day moving average is C$1.10. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69. The company has a market cap of C$359.08 million, a P/E ratio of -42.00 and a beta of 2.09.

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