Midnight Sun Mining (CVE:MMA) Shares Up 51.3% – Still a Buy?

Shares of Midnight Sun Mining Corp. (CVE:MMA) shot up 51.3% during trading on Saturday . The stock traded as high as C$0.59 and last traded at C$0.59. 1,480,653 shares traded hands during trading, an increase of 688% from the average session volume of 187,992 shares. The stock had previously closed at C$0.39.

Midnight Sun Mining Stock Performance

The firm’s fifty day moving average is C$0.44 and its 200 day moving average is C$0.41. 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. The company has a debt-to-equity ratio of 1.57, a current ratio of 38.15 and a quick ratio of 3.91.

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.