Midnight Sun Mining (CVE:MMA) Shares Up 38.5% – Still a Buy?

Shares of Midnight Sun Mining Corp. (CVE:MMA) traded up 38.5% during mid-day trading on Friday . The stock traded as high as C$0.55 and last traded at C$0.54. 1,275,903 shares traded hands during trading, an increase of 584% from the average session volume of 186,615 shares. The stock had previously closed at C$0.39.

Midnight Sun Mining Stock Performance

The company has a market capitalization of C$97.69 million, a price-to-earnings ratio of -59.00 and a beta of 0.93. The stock has a 50-day simple moving average of C$0.44 and a 200-day simple moving average of C$0.41. The company has a current ratio of 38.15, a quick ratio of 3.91 and a debt-to-equity ratio of 1.57.

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.