Midnight Sun Mining (CVE:MMA) Reaches New 12-Month Low – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA) reached a new 52-week low during trading on Monday. The stock traded as low as C$0.46 and last traded at C$0.49, with a volume of 450548 shares traded. The stock had previously closed at C$0.46.

Midnight Sun Mining Stock Up 6.5%

The company has a current ratio of 11.09, a quick ratio of 3.91 and a debt-to-equity ratio of 0.67. The firm has a market cap of C$106.61 million, a P/E ratio of -3.27 and a beta of 3.01. The company’s 50 day simple moving average is C$0.64 and its 200-day simple moving average is C$0.85.

Insider Buying and Selling at Midnight Sun Mining

In related news, insider Brett Allan Richards acquired 192,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was purchased at an average cost of C$0.58 per share, with a total value of C$111,360.00. Following the completion of the acquisition, the insider directly owned 5,623,447 shares of the company’s stock, valued at approximately C$3,261,599.26. This trade represents a 3.53% increase in their ownership of the stock. 5.98% of the stock is owned by insiders.

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