Midnight Sun Mining (CVE:MMA) Trading 51.3% Higher – Still a Buy?

Midnight Sun Mining Corp. (CVE:MMA) shares were 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. Approximately 1,480,653 shares changed hands during mid-day trading, an increase of 688% from the average daily volume of 187,992 shares. The stock had previously closed at C$0.39.

Midnight Sun Mining Stock Performance

The stock has a 50-day moving average price of C$0.44 and a 200 day moving average price of 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. The firm has a market capitalization of C$97.69 million, a price-to-earnings ratio of -59.00 and a beta of 0.93.

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.