Midnight Sun Mining (CVE:MMA) Shares Up 5% – Still a Buy?

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

Analysts Set New Price Targets

Separately, Haywood Securities set a C$3.00 target price on Midnight Sun Mining and gave the company a “buy” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Midnight Sun Mining presently has a consensus rating of “Buy” and an average target price of C$3.00.

Midnight Sun Mining Price Performance

The company’s 50-day moving average price is C$1.36 and its 200-day moving average price 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 firm has a market cap of C$359.08 million, a price-to-earnings 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.